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Compute the cost of land would be recorded

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Question - A company purchased land for $90,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, compute the cost of land would be recorded?

$107,000.

$90,000.

$70,000.

$102,000.

Reference no: EM132647409

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