Help System Announcements CALCULATOR PRINTER VERSION & BACK NEXT Multiple Choice Question 119 Pharoah Company is authorized to issue 10000 shares of 6%, $100 par value preferred stock and 445000 shares of no-par common stock with a stated value of $1 per share. If Pharoah ssues 6500 shares of preferred stock for land with an asking price of 5910000 and a market value of $68250D, which of the following would be the best journal entry for Pharoah to record? 582500 Land 682500 Preferred Stock 650000 Land 650000 Preferred Stock 210000 and Preferred Stock Paid-in Capital in Excess of Par. Preferred 350000 260000 682500 Land Preferred Stock Pald in Capital in Excess of Par. Preferred 550000 12500 Click if you would like to show Work for this questioni Qen Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT A CALCULATOR PRINTER VERSION & BACK NEXTI Multiple Choice Question 119 Pharoah Company is authorized to issue 10000 shares of 6%, $100 par value preferred stock and 445000 shares of no-par common stock with a stated value of $1 per share. If Pharoah issues 6500 shares of preferred stock for land with an asking price of $910000 and a market value of $682500, which of the following would be the best journal entry for Pharoah to record? Land 682500 Preferred Stock 582500 Land 350000 Preferred Stock 550000 Land 910000 Preferred Stock Paid in Capital in Excess of Par. Preferred 260000 Preferred Stock Paid in Capital in Excess of Par - Preferred 650000 32500 Click if you would like to Show Work for this questioni Open Show Work