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Business, 15.04.2021 18:20 karlaperez482

On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $38,000 in cash and giving a short-term note for $278,000. Legal fees paid were $2,325, delinquent taxes assumed were $13,200, and fees paid to remove an old building from the land were $18,500. Materials salvaged from the demolition of the building were sold for $4,700. A contractor was paid $960,600 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. $fill in the blank 1

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