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On February 3, Clairemont Repair Services extended an offer of $360,000 for land that had been priced for sale at $400,000. On February 28, Clairemont
On February 3, Clairemont Repair Services extended an offer of $360,000 for land that had been priced for sale at $400,000. On February 28, Clairemont Repair service accepted the sellers counteroffer of $380,000. On October 23, the land was assessed at a value of $390,000 for property tax purposes. On January 15, of the next year, Clairemont repair service was offered $450,000 for the land by a national retail chain. At what value should the land be recorded in Clairemont repair services records?
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