On April 30, Green Ltd. sold land with a book value of $600,000 to Brown Ltd. for its market value of $800,000. Brown Ltd. gave Green Ltd. a 12 percent, $800,000 note secured only by the land. At the date of sale, Brown Ltd. was in a very poor Financial position and its continuation as a going concern was very questionable. Green Ltd. should: Multiple Choice Record the note at its discounted value. Use the cost recovery method of accounting. Fully reserve the note by creating an allowance contra account. Record a $200,000 gain on the sale of land