If a company is considering the purchase of a parcel of land that was acquired by the seller for $93,000 is offered for sale at $166,000, is assessed for tax purposes at $103,000, is recognized by the purchaser as easily being worth $156,000, and is purchased for $153,000, the land should be recorded in the purchaser's books at:

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2 August, 13:21

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Alijah · Answer 1

I may be wrong but I think it is still 153,000 dollars because that is what was purchased.