Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming that the exchange has commercial substance, Horton would record land-new and a gain/(loss) of:

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$$\begin{array} { | l | r | r | } 
\hline \text { Land-new } ( F V \text { of old land } + \$ 5,000 ) & 105,000 \
\hline \text { Cash } & & 5,000 \
\hline \text { Gain } ( \$ 100,000 - 90,000 ) & & 10,000 \
\hline \text { Land-old (book value) } & & 90,000 \
\hline
\end{array}$$

Horton Stores Exchanged Land and Cash of $5,000 for Similar