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On February 3, Obermayer Repair Service extended an offer of $109,000 for land that had...

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Accounting

On February 3, Obermayer Repair Service extended an offer of $109,000 for land that had been priced for sale at $124,000. On February 28, Obermayer Repair Service accepted the seller's counteroffer of $118,000. On October 23, the land was assessed at a value of $177,000 for property tax purposes. On January 15 of the next year, Obermayer Repair Service was offered $189,000 for the land by a national retail chain.

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