A company purchased land for $89600 cash. Real estate brokers' commission was $6200 and $6800 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 $89600. O $102600. O $68000. O $108800.

A company purchased land for $89600 cash. Real estate brokers' commission was $6200 and $6800 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 $89600. $102600. $68000. $108800