ABC Co. purchased land with a newly constructed building on it. The contract price was $490,000. The appraisal indicated that, valued separately, the land was worth $260,000 and the building was worth $240,000. At what amount should the land be recorded in the accounting records? $254, 800. $245.000. $235, 200. $260,000. Butcher Co. sold 10,000 toys in Year4 for $20 each. The company expects that 5% of the toys will be returned under warranty for a refund of the sales price in the 2-year warranty period. There were $6,000 of warranty obligations paid in cash during Year4. What is Butcher's warranty expense for Year4? $5,000 $20,000 $6,000 $10,000 $3,000 Chen Corp. purchased a machine exactly six years ago. The machine cost $50,000 and Chen estimated a residual value of $4,000 and a useful life of 10 years. (Six full years have passed.) Today Chen sold the machine and recognized a $100 gain. Chen uses the straight-line method for depreciation. What was the selling price for the machine? In the answer box enter the amount as a number only- no punctuation of any kind