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Entity B purchased land to build a new plant. It incurred the following costs: Purchase price of land $390,000 Tear down existing building on land
Entity B purchased land to build a new plant. It incurred the following costs: Purchase price of land $390,000 Tear down existing building on land $47,000 Sale of salvage from tear down $12,000 Clear and fill the land $23,000 Construction costs for new building $1,500,000 Lighting and paving a parking area $90,000 What is the amount that should be debited to the Land account
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