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Problem 1 of 4 During the current year, Alanna Co. had the following transactions pertaining to its new office
Purchase price of land $120,000
Legal fees for contracts to purchase land 4,000
Architect fees 16,000
Demolition of the old building on site 10,000
Sale of scrap from old building 6,000
Construction cost of new building 700,000

What should Alanna Co. record on its books for the land? (show all your calculations)

Sagot :

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