Winslow Company Sold Investment Land to an Unrelated Purchaser

Multiple Choice

Winslow Company sold investment land to an unrelated purchaser. The purchaser paid $250,000 cash, assumed Winslow's $600,000 mortgage on the land, and gave Winslow its $580,000 ten-year, interest-bearing note. Compute Winslow's amount realized on sale.

A) $250,000
B) $830,000
C) $850,000
D) $1,430,000