6) Bangle Brothers purchased land 5 years ago for $80,000. It has received an offer from another company that wants to purchase the land for $200,000 ($50,000 cash, the remainder financed as a note). Bangles CEO is concerned about the impact this will have on the companys financial statements. Specifically, he does not want shareholders to see increased revenues, which might lead to unrealistic expectations for the next year.

a) If Bangle goes through with the sale, what journal entry would be recorded?

b) Address the CEOs concerns. Will revenue be impacted if the sale goes through? Why or why not?