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On March 1, 2020, Abbot Corporation purchased a parcel of land as a factory site for $100,000. An old building on the property was demolished.
On March 1, 2020, Abbot Corporation purchased a parcel of land as a factory site for $100,000. An old building on the property was demolished. The demolition cost was $15,000. Salvaged materials resulting from demolition were sold for $5,000. What is the total amount that should be debited to the Land account?.
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