Manufacturing operations for a total selling price
Course:- Accounting Basics
Reference No.:- EM13318406

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On January 15, 2013, Leno, Inc., which has a March 31, year-end, entered into a transaction to sell the land and building that contained its manufacturing operations for a total selling price of $19,750,000. The book value of the land and the building was $3,420,000. The final closing was not expected to occur until sometime between July 2014 and March 2015.

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