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GreatSUNY Co. owned 100% of GreatOW Corp. During the year, GreatOW sold to GreatSUNY a piece of land with a book value of $60,000. The
GreatSUNY Co. owned 100% of GreatOW Corp. During the year, GreatOW sold to GreatSUNY a piece of land with a book value of $60,000. The selling price was $80,000. In its accounting books, GreatOW should
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B) | recognize $20,000 of Other Comprehensive Income.
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C) |
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E) | recognize a loss of $20,000. |
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