DeltaDelta

Clothing purchased land, paying

$ 122 comma 000$122,000

cash and signing a

$ 200 comma 000$200,000

note payable. In addition,

DeltaDelta

paid delinquent property tax of

$ 1 comma 100$1,100,

title insurance costing

$ 900$900,

and

$ 5 comma 200$5,200

to level the land and remove an unwanted building. Record the journal entry for purchase of the land.

Delta Clothing purchazed lund paying 5122,000 cazh and signing a $200,000 note payable. In addition Deta paid delinquent property tax of $1,100, tte ineurance costing 900, and 55,200 to level the land and remove an unwanted building. Record the journal entry for purchase of the land. Begin by determining the cost of the land Purchase price of land Add related custs Total cost of land Record the journal cntry for purchasc of the land. Record a single compound jourmal entry. Record debits first, then credrs Sclect the explanation on the last line of the journal entry table.) Cradi Accounts and Explanarion labit