The following expenditures were incurred by Obermeyer Company in purchasing land: cash price…

The following expenditures were incurred by Obermeyer Company in purchasing land: cash price $70,000, accrued taxes $3,000, attorneys’ fees $2,500, real estate broker’s commission $2,000, and clearing and grading $3,500.What is the cost of the land?View Solution:
The following expenditures were incurred by Obermeyer Company in

 

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