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On March 1, 2022, Blossom Corporation acquired real estate, on which it planned to construct a small office building, by paying $99,200 in cash. An
On March 1, 2022, Blossom Corporation acquired real estate, on which it planned to construct a small office building, by paying $99,200 in cash. An old warehouse on the property was demolished at a cost of $10,080; the salvaged materials were sold for $2,020. Additional expenditures before construction began included a $1,860 legal fee for work concerning the land purchase, a $11,240 architect's fee, and $17,360 to put in driveways and a parking lot. (a) a Determine the amount to be reported as the cost of the land. Cost of Land $ LA Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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