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What amount does cullumber record as the cost for the land

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Reference no: EM133011284

Problem 1: Cullumber Company purchases land for $150000 cash. Cullumber assumes $4800 in property taxes due on the land. The title and attorney fees totaled $3100. Cullumber has the land graded for $3400. They paid $22000 for paving of a parking lot. What amount does Cullumber record as the cost for the land?

Reference no: EM133011284

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