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Entity I (which follows US GAAP) purchased a commercial bulding site several years ago for $90,000. A bulder recently offered to purchase the sine for

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Entity I (which follows US GAAP) purchased a commercial bulding site several years ago for $90,000. A bulder recently offered to purchase the sine for $450,000 in an all-cash deal, but Entily 1 declined. At what value should the land be reported in Entity i's financial statements? It should not be reported at any value because it is not being used in operation. 5360.000 $450,000 because a willine seller has been found. 590000

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