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Job purchased land as an investment on January 12, 2018, for $80,000. On January 31, 2021, Job sold the land for $33,000 cash. In addition,
Job purchased land as an investment on January 12, 2018, for $80,000. On January 31, 2021, Job sold the land for $33,000 cash. In addition, the purchaser assumed the mortgage of $62,000 on the land. What is the amount realized (not gain realized) on the sale of the land? Oa. $95,000 b. $23,000 Oc. $103,000 Od. $10,000 Oe. None of these choices are correct
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Financial Information Analysis 2e
Authors: Philip ORegan
2nd Edition
0470865725, 978-0470865729
