Bridge City Consulting bought a building and the land on which it is located for...
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Accounting
Bridge City Consulting bought a building and the land on which it is located for $150,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use.
Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year.
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