A company sold land for the same price that they paid for it last year.When entering this transaction in the journal,there will be a:
A)credit to Land.
B)debit to Land.
C)debit to Accounts Payable.
D)credit to Accounts Receivable.

Question

Quizplus · Accepted Answer

When the company sells the land, they need to remove the land from their books, which requires a credit to the Land account.

A Company Sold Land for the Same Price That They