Bart sold a parcel of land for $21,000. He paid a real estate agent a...

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Accounting

Bart sold a parcel of land for $21,000. He paid a real estate agent a commission of $1,500 for assisting with the sale. Bart had purchased the land several years earlier for $20,000. What is the gain or loss on the sale of the land?
Multiple choice question.
Loss of $500
Loss of $2,500
Gain of $21,000
Gain of $1,000

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