Dailey Company Is a Publicly Held Corporation Whose $1 Par

Multiple Choice

Dailey Company is a publicly held corporation whose $1 par value ordinary shares are actively traded at $22 per share.The company issued 2,000 shares to acquire land recently advertised at $55,000.When recording this transaction, Dailey Company will

A) debit Land for $55,000.
B) credit Share Capital-Ordinary for $44,000.
C) debit Land for $44,000.
D) credit Share Premium-Ordinary for $53,000.