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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
- $96,000.
- $87,690.
- $89,610.
- $89,370.
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