Victor Cruz contributed $83,000 in cash and land worth $156,000 to open a new business,...
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Accounting
Victor Cruz contributed $83,000 in cash and land worth $156,000 to open a new business, VC Consulting, in exchange for common stock. Which of the following general journal entries will VC Consulting make to record this transaction? Multiple Choice Debit Accounts Payable \$239,000; Credit Common Stock, $239,000. Debit Cash \$83,000; Debit Land \$156,000; Credit Common Stock, \$239,000. Debit Common Stock, \$239,000; Credit Cash \$83,000; Credit Land, \$156,000. Debit Common Stock, \$239,000; Credit Assets, \$239.000 Credit Cash and Land, $239,000; Credit Common Stock, $239,000
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