Question: Alpine Company solicited bids from several contractors to construct an addition to its office building. The lowest bid received was for $1,200,000. Alpine Company decided

Alpine Company solicited bids from several contractors to construct an addition to its office building.

The lowest bid received was for $1,200,000. Alpine Company decided to construct the addition itself at a cost of $1,100,000. What amount should be recorded in the building account?

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