Moving to another question will save this response. Question 2 Vault Co. sold land on 1/1/12 for $150,000. The original cost of the Land was $50,000 a Record the sale of this land. Account Title cash Debit Credit $150,000 land $50,000 gain on disposal 100,000 b. What effect would the amount have on net income (Increase Net Income or Decrease Net Income) increase c. By what amount would net income be effected ($50,000, $100,000 or $150,000) Moving to another question will save this response