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Question 3) On November 1, 2018, Amanda Company acquired real estate, on which it planned to construct a small office building, by paying $97,500 in

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Question 3) On November 1, 2018, Amanda Company acquired real estate, on which it planned to construct a small office building, by paying $97,500 in cash. An old warehouse on the property was demolished at a cost of $27,555; the salvaged materials were sold for $8,888. Additional expenditures before construction began included $1,900 attorney's fee for work concerning the land purchase, $5,200 real estate broker's fee, $10,100 architect's fee, and $25,000 to put in driveways and a parking lot. Instructions: A) Determine the amount to be reported as the cost of the land B) For each cost not used in part (a), indicate the account to be debited

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