On February 22, Kountry Repair Service extended an offer of $200,000 for land that had been priced for sale at $250,000.
On April 3, Kountry Repair Service accepted the seller's counteroffer of $230,000. On September 15, the land was assessed at a value of $185,000 for property tax purposes.
On January 9 of the next year, Kountry Repair Service was offered $300,000 for the land by a national retail chain.
At what value should the land be recorded in Kountry Repair Service's records?