Question
Vaughn Clinic purchases land for $176300 cash. The clinic assumes $1700 in property taxes due on the land. The title and attorney fees totaled $1100.
Vaughn Clinic purchases land for $176300 cash. The clinic assumes $1700 in property taxes due on the land. The title and attorney fees totaled $1100. The clinic has the land graded for $1700. What amount does Vaughn Clinic record as the cost for the land?
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel G. Short
3rd Edition
0072458836, 978-0072458831
