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Sheridan Company acquires land for $260000 cash. Additional costs are as follow. Removal of shed $2600 Filling and grading 7000 Salvage value of lumber of

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Sheridan Company acquires land for $260000 cash. Additional costs are as follow. Removal of shed $2600 Filling and grading 7000 Salvage value of lumber of shed 1260 Broker commission Paving of parking lot 41000 Closing costs 5200 4570 Sheridan will record the acquisition cost of the land as O $280630 $279370. $278110. O $260000

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