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A building was purchased by BIT Inc. in 2019 for a total of $1,000,000. In 2020, the company purchased a similar building for $2,500,000. The

A building was purchased by BIT Inc. in 2019 for a total of $1,000,000. In 2020, the company purchased a similar building for $2,500,000. The company recorded $3,800,000 for the purchase of these two buildings on their 2020 balance sheet. Which accounting principle was violated by the company by recording the purchase in this manner?

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