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Make a balance sheet: Based on the following data, determine the cost of the land to be reported on the balance sheet. Land purchase price

Make a balance sheet:

Based on the following data, determine the cost of the land to be reported on the balance sheet.

Land purchase price $138,000

Broker's commission 10,000

Payment for the demolition and removal of existing building 4,000

Cash received from sale of materials salvaged from demolished building 1,500

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