A company is considering purchasing a parcel of land that was originally acquired by the seller for
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Question:
A company is considering purchasing a parcel of land that was originally acquired by the seller for $91,000. While the land is currently offered for sale at $162,000, it is considered by the purchaser as easily being worth $152,000, and is finally purchased for $149,000.
The land should be recorded in the purchaser’s books at:
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781260881240
8th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
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