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Concord Company buys land for $50700 on 12/31/20. As of 3/31/21, the land has appreciated in value to $51200. On 12/31/21, the land has an
Concord Company buys land for $50700 on 12/31/20. As of 3/31/21, the land has appreciated in value to $51200. On 12/31/21, the land has an appraised value of $52300. By what amount should the Land account be increased in 2021?
$1600
$0
$500
$1100
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