A parcel of land is offered for sale at 150000 assessed for, Ask an Expert

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A parcel of land is: offered for sale at $150,000, assessed for tax purposes at $95,000, recognized by its purchasers as being worth $140,000 and purchased for $137,000. The land should be recorded in the purchaser's books at:

A. $95,000

B. $137,000

C. $138,500

D. $140,000

E. $150,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9441794

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