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On March 1 , 2 0 2 2 , Boyd Company acquired real estate, on which it planned to construct a small office building, by

On March 1,2022, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost of $8,200; the salvaged materials were sold for $1,700. Additional expenditures before construction began
included $1,900 attorneys fee for work concerning the land purchase, $5,200 real estate brokers fee, $9,100 architects fee, and $14,000 to put in driveways and a parking lot.
Instructions
a. Determine the amount to be recorded as the cost of the land.
b. For each cost not used in part (a), indicate the account to be debited.
Understand depreciation concepts

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