Bruce Corporation Issued 8,000 Common Shares in Exchange for Land

Multiple Choice

Bruce Corporation issued 8,000 common shares in exchange for land that has a fair market value of $184,000.The entry to record this transaction would include

A) A debit to Common Shares for $8,000
B) A debit to Land for $8,000
C) A credit to Land for $184,000
D) A credit to Common Shares for $184,000
E) A debit to Common Shares for $184,000