Question: Kane Inc.s $10 par value common stock is actively traded at a market value of $15 per share. Kane issues 5,000 shares to purchase land

Kane Inc.’s $10 par value common stock is actively traded at a market value of $15 per share. Kane issues 5,000 shares to purchase land advertised for sale at $85,000. Journalize the issuance of the stock in acquiring the land.

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