TRUE OR FALSE When 10,000 shares of P20 par value ordinary shares are issued in payment for a parcel of land with a fair market value of P300,000, the Ordinary Shares account is debited for P200,000,...

TRUE OR FALSE

When 10,000 shares of P20 par value ordinary shares are issued in payment for a parcel of land with a fair market value of P300,000, the Ordinary Shares account is debited for P200,000, and the Share Premium account is debited for P100,000.