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The land was recently appraised at 85000 the common stock

Question - Fielder Company obtained by issuing 2,000 shares of its $10 par value common stock. The land was recently appraised at $85,000. The Common Stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of land.

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Accounting Basics: The land was recently appraised at 85000 the common stock

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Accounting Basics: The land was recently appraised at 85000 the common stock

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