What value should land be recorded in easy repair service

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Reference no: EM13177597

On June 10, Easy Repair Service extended an offer of $95,000 for land that ha been priced for sale at $118, 500. On August 2, Easy Repair Service accepted the seller's counteroffer of $105,000. On August 27, the land was assessed at a value of $80,000 for property tax purposes. On April 1, Easy Repair Service was offered $125,000 for the land by a national retail chain.

At what value should the land be recorded in Easy Repair Service's records?

Reference no: EM13177597

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