If a parcel of land that was originally purchased for $89,000 is offered for sale at $158,000, is assessed for tax purposes at $99,000, is recognized by its purchasers as easily being worth $148,000, and is sold for $145,000. At the time of the sale, assume that the seller still owed $26,000 to TrustOne Bank on the land that was purchased for $89,000. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale and the payoff of the loan on the accounting equation? 8:46 AM