Our company purchases a building and land for $500,000. The appraised market value of the land is $300,000, and the total appraised value of the entire purchase including the building and land is $600,000. The amount recorded in our company's general ledger in the Land account upon purchase is $300,000.

Group of answer choices

True

False

Question 2

Unearned revenue can be found on a company's income statement.

Group of answer choices

True

False

No need for an explanation, just the right answer. Thank you so much and I will be upvoting!