For each of the following land sales, prepare the journal entry that would be recorded and indicate
Question:
a. Land costing $500,000 is sold for $410,000.
b. Land costing $1,300,000 is sold for $4,000,000.
c. Land costing $1,800,000 is sold for $1,800,000.
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a Dr Cash 410000 Dr Loss on sale of land 90000 Cr Land 500000 ...View the full answer
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