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A company purchased property for $100,000. The property included a building. a parking lot, and land. The building was appraised at $52,000; the land at

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A company purchased property for $100,000. The property included a building. a parking lot, and land. The building was appraised at $52,000; the land at $53,000, and the parking lot at $20,000. Land should be recorded in the accounting records with an allocated cost of Multiple Choice $42,400 $53.000 $0. $100,000. $48,400

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