Question: Please explain the solution to this general accounting problem with accurate explanations. A parcel of land is offered for sale at $182,000, is assessed for

Please explain the solution to this general accounting problem with accurate explanations.

A parcel of land is offered for sale at $182,000, is assessed for tax purposes at $140,000, is recognized by Crown Developers as being worth $175,000, and is purchased for $169,000. The land should be recorded in the purchaser's books at :{ explain the answer) A. $140,000 B. $175,000 C. $169,000 D. $182,000 E. $160,000

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