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Holly Day Company purchased a piece of land 10 years ago for $68,000. Holly Day company is considering selling the land. The piece of land
Holly Day Company purchased a piece of land 10 years ago for $68,000. Holly Day company is considering selling the land. The piece of land was recently appraised for $138,000, they received an offer from a prospective buyer for $123,000, and a similar piece of land 5 blocks away recently sold for $131,000. How much should Holly Day Company report on its balance sheet for the piece of land?
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