CraneCompany is a publicly held corporation whose $1 par value stock is actively traded at $31 per share. The company issued 3300 shares of stock to acquire land recently advertised at $106000. When recording this transaction, Crane Company will
debit Land for $106000.
credit Paid-In Capital in Excess of Par for $102300.
credit Common Stock for $102300.
debit Land for $102300.
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