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Posted on Jun 15, 2024

If a company is considering the purchase of a parcel of land that was acquired by the seller for $91,000 is offered for sale at

If a company is considering the purchase of a parcel of land that was acquired by the seller for $91,000 is offered for sale at $162,000, is assessed for tax purposes at $101,000, is recognized by the purchaser as easily being worth $152,000, and is purchased for $149,000, the land should be recorded in the purchaser's books at:

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