On June 25, Easy Repair Service extended an offer of $88,000 for land that had been priced for sale at $101,000. On July 9, Easy Repair Service accepted the seller's counteroffer of $96,000. On October 1, the land was assessed at a value of $144,000 for property tax purposes. On December 22, Easy Repair Service was offered $154,000 for the land by a national retail chain.

At what value should the land be recorded in Easy Repair Service's records? $fill in the blank 1