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At what value should the land be recorded

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Problem - On June 7, Roller Skates Company offered to pay $75,000 for land that had a selling price of $90,000. On June 15, Roller Skates accepted a counteroffer of $83,000. On July 5, the land was assessed at a value of $100,000 for property tax purposes. On December 10, Roller Skates Company was offered $125,000 for the land by another company. At what value should the land be recorded in Roller Skates Company's records?

Reference no: EM132833886

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