Victor Cruz contributed $70,000 in cash and land worth $130,000 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? Multiple Choice Debit Accounts Payable $200,000; Credit Common Stock, $200,000. Credit Cash and Land, $200,000; Credit Common Stock, $200,000. Debit Cash $70,000; Debit Land $130,000; Credit Common Stock, $200,000. Debit Common Stock, $200,000; Credit Cash $70,000, Credit Land, $130,000. Debit Common Stock, $200,000; Credit Assets, $200,000.