Your answer is partially correct. Ayayai Inc.'s $10 par value common stock is actively...

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Accounting

Your answer is partially correct.
Ayayai Inc.'s $10 par value common stock is actively traded at a market price of $14 per share. Ayayai issues 6,500 shares to purchase
land advertised for sale at $80,000.
Journalize the issuance of the stock in acquiring the land. (List all debit entries before credit entries. Credit account titles are automatically
indented when amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
Land
Common Stock
Paid-in Capital in Excess of Par-Common Stock
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