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Sarasota Inc. purchased land at a price of $33,100. Closing costs were $3,330. An old building was removed at a cost of $11,410. What amount should be recorded as the cost of the land?

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sakhilemdletshesm

Answer:

$47840 should be recorded as the cost of the land.

Explanation:

The cost of the land will be=(Price paid for the land+Cost of old building removed+Closing costs)

=($33,100.+$3,330+$11,410)

=$47840

$47840 should be recorded as the cost of the land.

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