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Marrawi has recently accepted a donation of land in Hebron which had an original cost of $100,000 and a fair value of $250,000 from Hebron
Marrawi has recently accepted a donation of land in Hebron which had an original cost of $100,000 and a fair value of $250,000 from Hebron Real Estate Company. In return, Marrawi promises to build a beverage plant on the land. Marrawi should record this nonmonetary transaction as a Select one: a. credit to Donated Capital for $250,000. b. credit to Contribution Revenue for $250,000. c. memo entry only. d. credit to Extraordinary Income for $250,000.
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