On may 19 easy repair service extended an offer of 123000, Financial Accounting

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On may 19 easy repair service extended an offer of 123000

On May 19, Easy Repair Service extended an offer of $123,000 for land that had been priced for sale at $141,000. On June 4, Easy Repair Service accepted the seller's counteroffer of $134,000. On October 10, the land was assessed at a value of $201,000 for property tax purposes. On February 5 of the next year, Easy Repair Service was offered $214,000 for the land by a national retail chain.

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

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Financial Accounting: On may 19 easy repair service extended an offer of 123000

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