paid to remove an old building from the land were $22,800. Materials salvaged from the demolition of the building were sold for $4,400. A contractor was paid $893,800 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. x Feedback V Check My Work Costs incurred to ready the asset for use are added to the asset account. Materials salvaged and sold during the process reduce the cost of the land