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Rafael sold an asset to Jamal. What is Rafael's amount realized on the sale in each of the following alternative scenarios? c. Rafael received $23,500
Rafael sold an asset to Jamal. What is Rafael's amount realized on the sale in each of the following alternative scenarios?
c. Rafael received $23,500 cash, a parcel of land worth $96,500, and marketable securities of $10,400. Rafael also paid a commission of $9,000 on the transaction.
Amount realized
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