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Jack Company purchased land at a price of $40,000. Closing costsfor the transaction totale

Jack Company purchased land at a price of $40,000. Closing costsfor the transaction totale

Jack Company purchased land at a price of $40,000. Closing costsfor the transaction totaled $1,200. After the sale, Jack demolishedand removed an old barn on the land at a cost of $5,000 to preparethe land for its intended use. What is the total dollar amountcapitalized as the cost of the land? A. $40,000. B. $41,200. C.$45,000. D. $46,200.

Abhinav 04-Dec-2019

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