View Policies Current Attempt in Progress Pearl Company obtained land by issuing 2,580 shares of its $11 par value common stock. The land was recently appraised at $110,580. The common stock is actively traded at $41 per share. Prepare the journal entry to record the acquisition of the land. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit