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Sale of a Principal Residence. Mr. and Mrs. Rusbarsky purchased a residence on June 12,...

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Accounting

Sale of a Principal Residence. Mr. and Mrs. Rusbarsky purchased a residence on June 12, 2012, for $200,000. On March 12, 2015, they sell the residence for $300,000, and sell- ing expenses amount to $11,000. They purchase another house in a new subdivision for $275,000. Determine the gain realized and recognized.

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