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(answered) – 1. Pastel Paint Company purchased land two years ago at a priceDescriptionSolution downloadThe Question1. Pastel Paint Company purchased land two years ago at a price of $250,000. Because the value of the land has appreciated to $400,000, the company has valued the land at $400,000 in its most recent balance sheet. Accounting assumption or principle used

(answered) – 1. Pastel Paint Company purchased land two years ago at a price

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