Iowa Development (ID) company made the following land sales and had the following cash collections: 2008: Sold Altoona land for $2,000,000 that cost…
Iowa Development (ID) company made the following land sales and had the following cash collections:2008: Sold Altoona land for $2,000,000 that cost ID $1,200,000. The land agreement required payments of $1,000,000 within one week of occupancy of the land, and the other $1,000,000 in 2009. ID received the $1,000,000 payment.2009: Sold Boone land for $2,400,000 that cost ID $1,200,000. The land agreement required payments of […]