Help\ Save & Exit\ Subm\ Dn July 1, 2024, a company purchased a

$400,000

tract of land that is intended to be the site of a new office complex. The company incurred additional costs and realized salvage proceeds during 2024 as follows:\ Demolition of existing building on site Legal and other fees to close escrow Proceeds from sale of demolition scrap\

$71,000

\ 14,000\ 9,700\ What would be the balance in the land account as of December 31,2024?

Dn July 1, 2024, a company purchased a $400,000 tract of land that is intended to be the site of a new office complex. The company incurred additional osts and realized salvage proceeds during 2024 as follows: /hat would be the balance in the land account as of December 31, 2024