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If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is 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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9401840

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