e. Faubert sold land on December 31, Year 3, for $20,000, which was $2,000 above book value.

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e. Faubert sold land on December 31, Year 3, for $20,000, which was $2,000 above book value. Faubert recorded this journal entry: Cash 20,000 Land 18,000 Retained Earnings 2,000

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e. Faubert sold land on December 31, Year 3, for $20,000, which was $2,000 above book value.

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