Horton Stores Exchanged Land And Cash Of 5 000 For Similar Land The Book Value A

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 at and record a gain/(loss) of:010,000010,000Assuming that the exchange lacks commercial substance, Horton would record land-new at and record a gain/(loss) of:010,0000