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Posted on Jun 08, 2024

Benton Travel Agency purchased land of $ 9 0 , 0 0 0 cash on December 1 0 , 2 0 2 0 . At

Benton Travel Agency purchased land of $

90, 000

cash on December

10, 2020 .

At December

31, 2020,

the lands value has increased to $

92, 000 .

What amount should be reported for land on Benton's Balance Sheet at December

31, 2020 ?

Explain.

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