Question: Capstone Consulting Services acquired land 5 years ago for 200 000
Capstone Consulting Services acquired land 5 years ago for $200,000. Millstone recently signed an agreement to sell the land for $375,000. In accordance with the sales agreement, the buyer transferred $375,000 to Capstone’s bank account on February 20. How would elements of the accounting equation be affected by the sale?
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