Rafael received 80000 of cash and a vehicle worth 10000

Reference no: EM13598766

What is Rafael's amount realized on the sale in each of the following alternative scenarios?

A. Rafael received $80,000 of cash and a vehicle worth $10,000. Rafael also pays $5,000 in selling expenses.
Amount realized $

B. Rafael received $80,000 of cash and was relieved of a $30,000 mortgage on the asset he sold to Jamal. Rafael also paid a commission of $5,000 on the transaction.
Amount realized $

C. Rafael received $20,000 of cash, a parcel of land worth $50,000, and marketable securities of $10,000. Rafael also paid a commission of $8,000 on the transaction.
Amount realized $

Reference no: EM13598766

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