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A company purchased land for $80,000 cash. Real estate brokers commision was $5,000 and $10,000 was spent for demolishing an old building on the land
A company purchased land for $80,000 cash. Real estate brokers commision was $5,000 and $10,000 was spent for demolishing an old building on the land before construction of a new building could start. under the cost concept, the cost of land would be recorded at
95,000
90,000
80,000
85,000
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