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Jackson Incorporated purchased a tract of land for $150,000. In connection with the land purchase, Jackson peld attorney's fees of $2,400 and sales commissions of

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Jackson Incorporated purchased a tract of land for $150,000. In connection with the land purchase, Jackson peld attorney's fees of $2,400 and sales commissions of $7.500 to a realtor. How much should Jackson record in its "land" account as a result of this transaction? Multiple Choice $150,000 $152.400 $159,900 $152.500

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