Pool Party Planners purchased a parcel of land 18 months ago and paid $64,500 cash. The company sold the land and received $60,500 cash. Which of the following statements concerning the land sale is false? Multiple Choice The land account was credited for $64,500. The cash account was debited for $60,500. Income from operations increased $4,000. The entry to record this transaction requires 2 debits and 1 credit