A company paid 150000 plus a 6 commission and 4000 in, Ask an Expert

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A company paid $150,000, plus a 6% commission, and $4,000 in closing costs for a property. The property included land appraised at $87,500, land improvements appraised at $35,000, and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9965028

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