May 1 The company billed a customer $2,300 in consulting revenue for sustainable proposals. 3 The company purchased $450 of energy efficient supplies on credit. 9 The company collected $1,300 cash as partial payment of May 1 consulting revenue. 20 The company paid $450 cash toward the payable for energy efficient supplies. 31 The company paid $250 cash for May’s renewable energy utilities.

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