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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

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