On January 1, 2017, Sandhill Corporation sold a building that cost $258,210 and that had accumulated depreciation of $105,500 on the date of sale. Sandhill received as consideration a $248,210 non-interest-bearing note due on January 1, 2020.
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Pastel Company operates in the following lines of business which management believes have distinguishable return and risk characteristics: Revenues Assets Food 500 2,000 Beverages 1,300 6,000 Entertainment 2,500 10,000 Lodging 5,000 20,000 Services
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