Business

24 June, 10:50

Hull Company acquires land for $86,000 cash. Additional costs are as follows:

Removal of shed

$300

Filling and grading

1,500

Salvage value of lumber of shed

120

Broker commission

1,130

Paving of parking lot

10,000

Closing costs

560

Hull will record the acquisition cost of the land as

$86,000.

$89,610.

$89,370.

$87,690

+4

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