QUESTION 30 Laramie Corporation has acquired a property that included both land and a building for $560,000. The corporation hired an appraiser who has determined that the market value of the land is $360,000 and that of the building is $440,000. At what amount should the corporation record the cost of the building? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) $280,000 $252,000 $360,000 $308,000 QUESTION 31 Mars Corp. had cash sales of $10,000. The state sales tax rate is 10.8%. In the journal entry to record the sales transaction, what amount is debited to the Cash account? $11,080 $10,800 $1080 $1000 QUESTION 32 Classic Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at 3% of sales revenue. In 2018, the company had $602,000 of sales. In the same year, it paid out $12,000 of warranty payments. Which of the following is the entry needed to record the estimated warranty expense? Warranty Expense 18,060 Estimated Warranty Payable 18,060 Warranty Expense 12,000 Estimated Warranty Payable 12,000 Warranty Expense 18,060 Sales Revenue 18,060 12,000 Estimated Warranty Payable Cash 12,000