Question: On July 1 , 2 0 2 4 , Ryman acquired land by issuing 1 0 , 0 0 0 shares of $ 1 par

On July 1,2024, Ryman acquired land by issuing 10,000 shares of $1 par value common stock. The appraised value of the land on the acquisition date was $130,000. The common stock is actively traded and had a market price of $12.00 per share on the acquisition date. Record the acquisition of the land as a journal entry.

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