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On January 1, 2016, Crouser Company sold land to Chad Company, accepting a 2-year, $150,000,...

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Accounting

On January 1, 2016, Crouser Company sold land to Chad Company, accepting a 2-year, $150,000, non-interest-bearing note due January 1, 2018. The fair value of the land was $123,966.90 on the date of sale. Crouser purchased the land for $105,000 on January 1, 2010.

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