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A company purchased land for $310000 cash. Real estate brokers' commission was $23000 and $46000 was spent for demolishing an old building on the land

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A company purchased land for $310000 cash. Real estate brokers' commission was $23000 and $46000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at $333000 $356000. $310000 $379000

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