Used to record this transaction in the accounting records

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Aztec Company is selling a piece of land adjacent to their business. An appraisal reported the market value of the land to be $95,507. The Majestic Company and the Aztec Company settled on a purchase price of $108,003. On the same day, another piece of land on the same block sold for $104,435. Under the cost concept, what is the amount that will be used to record this transaction in the accounting records.

Reference no: EM131264514

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Used to record this transaction in the accounting records : Aztec Company is selling a piece of land adjacent to their business. An appraisal reported the market value of the land to be $95,507. The Majestic Company and the Aztec Company settled on a purchase price of $108,003. On the same day, another piece ..

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