If a company is considering the purchase of a parcel of land that was acquired by the seller for $99,000 is offered for sale at $178,000, is assessed for tax purposes at $109,000, is recognized by the purchaser as easily being worth $168,000, and is purchased for $165,000, the land should be recorded in the purchaser's books at:

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London Levine

23 January, 07:15

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Chelsea Mccall · Answer 1

It should be recorded at the price of $109,000.