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Business, 05.05.2020 08:01 dbhuggybearow6jng

Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $44,000 and giving a short-term note for $271,000. Legal fees paid were $1,570, delinquent taxes assumed were $9,300, and fees paid to remove an old building from the land were $19,100. Materials salvaged from the demolition of the building were sold for $4,700. A contractor was paid $957,600 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.

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Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $44,000 and...
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