What is the effect of the sale


The Austin Land Co sold lanbd for $85.000 in cash. The land was originally purchased for $65,000, and at the time of sale, $40,000 was still owed to Regions Bank on that purchase. After the sale, the Company paid off the loan to Regions bank. What is the effect of the sale and the payoff of the loan on the accounting equation

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the effect of the sale
Reference No:- TGS0555120

Expected delivery within 24 Hours