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Acer Investments plans to develop a shopping center. In the first quarter they spent the following amounts: Acquisition of land $15,000 Surveys and legal fees

Acer Investments plans to develop a shopping center. In the first quarter they spent the following amounts: Acquisition of land $15,000 Surveys and legal fees 600 Land clearing 200 Fencing 1,000 Install lighting and signage 860 What amount should be recorded as the cost of land in the books of the company? $16,800 $15,800 $16,660 $16,200

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