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How Wok Repair Service should record the land

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Problem - On October 1, Wok Repair Service extended an offer of $100,000 for land that had been priced for sale at $150,000. On December 19, Wok Re-pair Service accepted the seller's counteroffer of $110,000. Describe how Wok Repair Service should record the land.

Reference no: EM132710814

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