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What should be the allocation of the property costs

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Problem 1: A company paid $150,000, plus a 6% commission and $4,000 in closing costs for a property.The property included land appraised at $87,500, land improvements appraised at $35,000 and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records?

Reference no: EM132708658

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