On February 3, Dependable Repair Service extended an offer of $80,000 for land that had been priced

Question:

On February 3, Dependable Repair Service extended an offer of $80,000 for land that had been priced for sale at $90,000. On March 6, Dependable Repair Service accepted the seller's counteroffer of $88,000. Describe how Dependable Repair Service should record the land.