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Merchant Company purchased land for a building site. The costs associated with t...
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Merchant Company purchased land for a building site. The costs associated with the property were:
| Purchase price | $ 185,000 |
|---|---|
| Real estate commissions | 16,000 |
| Legal fees | 1,800 |
| Expenses of clearing the land | 3,000 |
What is the total recorded cost of the land?
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