Borges Inc. recently purchased land to use for the construction of its new manufacturing facility and incurred

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Borges Inc. recently purchased land to use for the construction of its new manufacturing facility and incurred the following costs: purchase price, $85,000; real estate commissions, $5,100; delinquent property taxes, $1,500; closing costs, $3,500 clearing and grading of the land, $8,100.

Required:
Determine the cost of the land.
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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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