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A vacant lot acquired for $602,000, on which there is a balanceowed of $343,140, is sold for $662,200 in cash. The seller pays the$343,140 owed.
A vacant lot acquired for $602,000, on which there is a balanceowed of $343,140, is sold for $662,200 in cash. The seller pays the$343,140 owed. What is the effect of these transactions on thetotal 1 answer
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