A company purchased land for 80000 cash. real estate, Ask an Expert

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A company purchased land for $80,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land would be recorded at ??

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Accounting Basics, Accounting

Category:- Accounting Basics
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