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QUESTION 29 Merchant Company purchased land for a building site. The costs associated with the property were: Purchase price Real estate commissions Legal fees

QUESTION 29 Merchant Company purchased land for a building site. The costs associated with the property were: Purchase price Real estate commissions Legal fees Expenses of clearing the land What is the total recorded cost of the land? $185,000 $205,800 $202,800 $ 185,000 16,000 1,800 3,000 $201,000 $188,800

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