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Sheridan Company purchases land for $130000 cash. Sheridan assumes $5000 in property taxes due on the land. The title and attorney fees totaled $3200. Sheridan

Sheridan Company purchases land for $130000 cash. Sheridan assumes $5000 in property taxes due on the land. The title and attorney fees totaled $3200. Sheridan has the land graded for $4400. They paid...

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