Business, 16.04.2020 01:46 TheCampingStone

A company purchased land for $86,000 cash. Commissions of $10,000, property taxes of $10,500, and title insurance of $3,000 were also incurred. The $10,500 in property taxes includes $6,200 in back taxes paid by the company on behalf of the seller and $4,300 due for the current year after the purchase date. For what amount should the company record the land?

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A company purchased land for $86,000 cash. Commissions of $10,000, property taxes of $10,500, and ti...

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