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A. A vacant lot acquired for $263,500 is sold for $508,500 in cash. What is the effect of the sale on the total amount of

A. A vacant lot acquired for $263,500 is sold for $508,500 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? A = L + SHE Sold Lot Cash Received Gain . Check

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