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Donner Company is selling a piece of land adjacent to its business premises. An appraisal reported the market value of the land to be $95,178.
Donner Company is selling a piece of land adjacent to its business premises. An appraisal reported the market value of the land to be $95,178. The Focus Company initially offered to buy the land for $108,419. The companies gettled on a purchase price of $212,000. On the same day, another piece of land on the same block sold for $104,721. Under the cost principle, at what amount should the land be recorded in the accounting records of focus Company? Oa. 195.178 Q6. $108,419 Oc. $104.721 Od. $212,000
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