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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 $61.000; 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 $61.000; the land at $45,800, and the parking lot at $18,200. Land should be recorded in the accounting records with an allocated cost of Multiple Choice $42,640 $45,800. $100,000. $0 $36,640

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