On January 1, Duane Company purchases land at a cost of $125,000. Duane incurs costs of $2,000

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On January 1, Duane Company purchases land at a cost of $125,000. Duane incurs costs of $2,000 for the closing fees and surveys. Duane also spent $7,500 on clearing costs to prepare the land for use. What is the cost of land to be recorded by Duane?

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Question Posted: Jul 09, 2019 12:05 PM

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On January 1, Duane Company purchases land at a cost of $125,000. Duane incurs costs of $2,000

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Intermediate Accounting Reporting and Analysis

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