Provo Clothing purchased land, paying $ 80,000 cash plus a $ 220,000 note payable. In addition, Provo
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Provo Clothing purchased land, paying $ 80,000 cash plus a $ 220,000 note payable. In addition, Provo paid delinquent property tax of $ 1,500, title insurance costing $ 800, and $ 4,000 to level the land and remove an unwanted building. Record the journal entry for purchase of the land.
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Purchase price of land 300000 Add related costs Property ta...View the full answer
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Related Book For 
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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