Andy has an outside basis in Canine Partnership of $520,000. The partnership distributes the following assets to Andy in a proportionate, non-liquidating distribution:

• Land (fair market value of $6000,000 and basis to partnership of $240,000
• Cash of $100,000
• Accounts receivable (fair market value of $200,000 and basis of $0)

What is Andy's basis in the land? What is Andys basis in the accounts receivable?