Effect of the sale on the total amount

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A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1)assets, (2)liabilities, and (3)stockholders' equity?

Reference no: EM131070985

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Effect of the sale on the total amount : A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1)assets, (2)liabilities, and (3)stockholders' equity?

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