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What journal entry will foreel company makes

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Question - Assume that Foreel Company purchases real estate at a cash cost of $120,000. The land contains a small building that is demolished at a net cost of $8,000 ($10,700 in costs less $2,700 made from sales of the bricks). Additional expenditures are the legal fee, $800, and the real estate broker's commission, $7,800. What is the cost of Land? What journal entry will Foreel Company makes to record this transaction?

Reference no: EM132968981

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