The company has received a donation of land from a rich local philanthropist. The land originally cost

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The company has received a donation of land from a rich local philanthropist. The land originally cost the philanthropist $35,000. On the date of the donation, it had a market value of $100,000. Make the journal entry necessary on the books of the company to record the receipt of the land.

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Intermediate Accounting

ISBN: 978-0324312140

16th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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