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Greenhouse Nursery_purchased land for $100,000, removed a building that cost $10,000, cleared and graded the...

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Accounting

Greenhouse Nursery_purchased land for $100,000, removed a building that cost $10,000, cleared and graded the land at a cost of $7,500, incurred legal fees of $50,000, and installed a parking lot for $6,000 and a fence for $3,500. All items were paid by cash.
Instructions
(a) Calculate the cost of the land.
(b) Calculate the cost of the land improvements.
(c) Record the purchase of the land and land improvements.
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