Solved: The company purchased the land for 120000 on january 1, Accounting Basics

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The company purchased the land for 120000 on january 1

On January 1, 2010, Crouser Company sold land to Chad Company, accepting a two year, $150,000 non interest bearing note due January 1, 2012. The fair value of the land was $123,966.90 on the date of sale. The company purchased the land for $120,000 on January 1, 2004.

Required:
Prepare all the journal entries on Crouser Company's books for January 1, 2010 through January 1, 2012, in regard to the Chad Company note.

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Accounting Basics: The company purchased the land for 120000 on january 1

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Accounting Basics: The company purchased the land for 120000 on january 1

Reference No:- TGS01156793

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