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On july 1 2013 larkin co purchased a 430000 tract of land

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On July 1, 2013, Larkin Co. purchased a $430,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2013 as follows          

   Demolition of existing building on site $72,000  
   Legal and other fees to close escrow 12,600  
   Proceeds from sale of demolition scrap 9,600  

What would be the balance in the land account as of December 31, 2013?

Reference no: EM13594525

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On july 1 2013 larkin co purchased a 430000 tract of land : on july 1 2013 larkin co. purchased a 430000 tract of land that is intended to be the site of a new office complex.
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