Solution-What amount should be recorded for the purchase of

What amount should be recorded for the purchase of the land

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Reference no: EM132821161

Question - Company incurred the following costs associated with the purchase of a piece of land that will use to re build an office building.

Sale price of land $400,000

Sale of salvage parts already on land $20,000

Demolition of old building $30,000

Groundbreaking ceremony (food and supplies) $1,500

Land preparation and leveling $7,500

What amount should be recorded for the purchase of the land?

Reference no: EM132821161

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What amount should be recorded for the purchase of the land : Groundbreaking ceremony (food and supplies) $1,500 and Sale of salvage parts already on land $20,000. What amount should be recorded for the purchase of land

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What amount should be recorded for the purchase of the land

Reference no: EM132821161

Reference no: EM132821161

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