On March 31, Higgins Repair Service extended an offer of $415,000 for land that had been priced for sale at $460,000. On April 15, Higgins Repair Service accepted the seller's counteroffer of...


On March 31, Higgins Repair Service extended an offer of $415,000 for land that had been<br>priced for sale at $460,000. On April 15, Higgins Repair Service accepted the seller's<br>counteroffer of $437,500. On September 9, the land was assessed at a value of $375,000 for<br>property tax purposes. On December 8, Higgins Repair Service was offered $475,000 for the<br>land by a national retail chain. At what value should the land be recorded in Higgins Repair<br>Service's records?<br>

Extracted text: On March 31, Higgins Repair Service extended an offer of $415,000 for land that had been priced for sale at $460,000. On April 15, Higgins Repair Service accepted the seller's counteroffer of $437,500. On September 9, the land was assessed at a value of $375,000 for property tax purposes. On December 8, Higgins Repair Service was offered $475,000 for the land by a national retail chain. At what value should the land be recorded in Higgins Repair Service's records?

Jun 11, 2022
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