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What the cost of land would be recorded at

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Question 1: BVC Corp. purchased land for $90,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before land could be used. Under the cost principle, the cost of land would be recorded at

Group of answer choices

Option 1: $97,000.

Option 2: $90,000.

Option 3: $95,000.

Option 4: $102,000.

Reference no: EM132513833

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