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Homevestors paid $400,000 at an auction to purchase land that had an appraised value of $600,000. The next highest bid on the land was $300,000.
Homevestors paid $400,000 at an auction to purchase land that had an appraised value of $600,000. The next highest bid on the land was $300,000. At what amount should the land be recorded on the company's current financial statements? Oa. $600,000 Ob. $400,000 Oc. $300,000 Od. $500,000 o
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