Business, 02.03.2020 18:01 memelord0111011

Victor Cruz contributed $92,000 in cash and land worth $174,000 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?

a. debit cash 77,000; debit land 144,000; common stock 221,000
b. debit common stock 122,000; credit assets 221,000
c. debit common stock 221,000; credit cash 77,000; credit land 144,000
d. credit cash and land 221,000; common stock 221,000
e. debit accounts payable 221,000 common stock 221,000

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