View Policies Current Attempt in Progress Land appraised at $76,000 is purchased by issuing 1,000 shares of $20 par value common stock. The market price of the shares at the time of the exchange, based on active trading in the securities market, is $92 per share. Should the land be recorded at $20,000, $76,000. or $92,000? The land should be recorded at $ e Textbook and Media