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Determine the cost of the land and journalize the purchase

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Keaubie Co. purchased land at a cost of $250,000 cash. The property had a building on it that was demolished at a cost of $10,000. Proceeds from salvaged materials from the demolition amounted to $2100. Attorney's fees were $3,100 and the real estate broker's commission was $2,450. Determine the cost of the land. Journalize the purchase.

Reference no: EM132379804

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