Question 1 of 20 Which of the following is an example of an adjusting entry? A. Revenue that has been billed and paid
B. Revenue from a prior accounting period
C. Revenue that has been billed but not yet paid
D. Revenue in the form of products as opposed to cash​

Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property