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A company made a lump sum purchase of property for $230,000. The property included a building, a parking lot, and land. The building was appraised
A company made a lump sum purchase of property for $230,000. The property included a building, a parking lot, and land. The building was appraised at $180,000; the land at $50,000, and the parking lot at $20,000. Land should be recorded in the accounting records with an allocated cost of
$165,600
$18,400
$20,000
$50,000
$46,000
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