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Question - Determine the cost of the land, based on the following data.
Land purchase price $90,000
Broker's commission 7,500
Payment for the demolition and removal of existing building 2,500
Cash received from the sale of materials salvaged from the demolished building 500.
Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable
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Prepare the journal entries to record the transactions on April 1 and August 1, 2017
1.cheers inc. operates as a partnership. now the partners havedecided to convert the business into a corporation. which
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