the de Repair Service extended an offer of $134,000 for land that had been priced for sale at $153,000. On July 9, McCade Repair Service countries of $146,000. On October 1, the land was assessed at a value of $219,000 for property tax purposes. On December 22, Service was offered $234,000 for the land by a national retail chain hove the and be recorded in McCade Repair Service's records? c e amounts are initially recorded in the accounting records at their cost