CoursHeroTranscribedText: My Home cengagen Cost Principle On June 25, McCade Repair Service extended an offer of $85,000 for land that had been priced for sale at $97,000. On July 9, McCade Repair Service accepted the seller's counteroffer of $92,000. On October 1, the land was assessed at a value of $138,000 for property tax purposes. On December 22, McCade Repair Service was offered $147,000 for the land by a national retail chain. At what value should the land be recorded in McCade Repair Service's records