MC Qu. 05 A company incurred the following costs associated... A company incurred the following costs associated with the purchase of a piece of land that it will Purchase price of the land Sale of salvaged parts already on land Demolition of the old building Ground-breaking ceremony (food and supplies) Land preparation and leveling $400,000 $ 20,000 $ 30,000 $ 1,500 $ 7,500 What amount should be recorded for the purchase of the land? Multiple Choice