Jackson Company Is a Publicly Held Corporation Whose $1 Par

Multiple Choice

Jackson Company is a publicly held corporation whose $1 par value stock is actively traded at $64 per share. The company issued 3000 shares of stock to acquire land recently advertised at $200000. When recording this transaction Barton Company will

A) debit Land for $200000.
B) credit Common Stock for $192000.
C) debit Land for $192000.
D) credit Paid-In Capital in Excess of Par for $196000.