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On December 1, 2010, Bords Co. purchased a 400,000 tract of land for factory site. Bords razed an old building on the property and sold

On December 1, 2010, Bords Co. purchased a 400,000 tract of land for factory site. Bords razed an old building on the property and sold the materials it salvaged from the demolition . Bords incurred additional cost and realized salvage value proceeds during December 2010 as follows:

Demolition of building 50,000

Legal fees for purchase contract

and recording ownership 10,000

Title guarantee insurance 12,000

Proceeds for sale of salvaged

materials 8,000

In it's Decenber 31, 2010 balance sheet , Bords should report a balance in the land account of?

a.) 442,000

b.)422,000

c.)460,000

d.)464,000

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