A vacant lot acquired for 115000 is sold for 298000 in


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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Accounting Basics: A vacant lot acquired for 115000 is sold for 298000 in
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