Benjamin acquired a plant site from Monroe County on September 18 . The county agreed to give Benjamin the site in exchange for Benjamin's promise to locate a business location on the site. The land has a fair market value of $400,000. Benjamin has agreed to pay property taxes on the site based on the county tax assessor's value of $315,000. Analyze the information above, and prepare a memorandum addressing the correct accounting for the transactions above. In your memo, specifically address the following items: - Apply and explain all relevant ASC sections related to the each transaction - Record all entries for Benjamin. - Show and explain all calculations for each journal entry, and use the ASC to support your assumptions and computations. Must give specific ASC case numbers, ex. ASC 845-10-30-6. * ( asc.fasb.org)