Question: Alton Clothing purchased land paying 88 000 cash plus a 250 000

Alton Clothing purchased land, paying $88,000 cash plus a $250,000 note payable. In addition, Alton paid delinquent property tax of $1,900, title insurance costing $500, and $4,200 to level the land and remove an unwanted building. Record the journal entry for purchase of the land.

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  • CreatedJune 15, 2015
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