Victor Cruz contributed $77,000 in cash and land worth $144,000 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 221,000B. debit common stock 122,000; credit assets 221,000C debit common stock 221,000; credit cash 77,000; credit land 144,000D credit cash and land 221,000; common stock 221,000E debit accounts payable 221,000 common stock 221,000
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