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
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