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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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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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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.