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Company Mellow purchased land for $1,000,000 on March 1st, 2022. According to the cost principle, should Company Mellow record any depreciation expense for the land

    • Company Mellow  purchased land for $1,000,000 on March 1st, 2022.
    • According to the cost principle, should Company Mellow record any depreciation expense for the land on its financial statements? Justify your answer.

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