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PT Co. purchased land and an existing building for $200,000. In addition, PT paid closing costs of $15,000. PT removed the building and regraded the land for a total cost of $35,000. PT should record the cost of the land for:

Respuesta :

Answer:

$250,000

Explanation:

Data provided in the question :

Purchasing cost of the land = $200,000

Closing costs paid = $15,000

Total regarded cost of the land = $35,000

Now,

PT should record the cost of the land for

= Purchasing cost of the land + Closing costs paid + Total regarded cost of the land

= $200,000 + $15,000 + $35,000

= $250,000

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