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Kika A.

asked • 08/28/20

Cost Principles

On June 25, Repair Service extended an offer of $141,000 for land that had been priced for sale at $161,000, On July 9, AAA Repair Service accepted the seller's counteroffes of $153,900. On October 1 the was assessed at a value of $230,000 for property tax purposes. On December 22, AAA Repair Service was offered $245,000 for the land by a national retall chain.

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

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