QuestionMerchant Company purchased land for a building site. The costs associated with the property were:
\begin{tabular}{lr}
& \\
Purchase price & \\
Real estate commissions & 16,500 \\
Legal fees & 2,300 \\
Expenses of clearing the land & 3,500 \\
\hline
\end{tabular}
What is the total recorded cost of the land?
Multiple Choice
\$206,500
\$190,000
\$194,300
Studdy Solution
The total recorded cost of the land is .
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