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Financial Accounting questions, need answer 1) A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000 was spent for

Financial Accounting questions, need answer

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1) A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle the cost of land would be recorded at a. $385,000 lb. $350,000 $375,000 d. $410,000

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