White Brothers manufactures conveyor belts. Early in May 2011, White Brothers constructed its own building at a
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White Brothers manufactures conveyor belts. Early in May 2011, White Brothers constructed its own building at a materials, labor, and overhead cost of $970,000. White Brothers also paid for architect fees and building permits of $76,000.
Requirements 1. How much should White record as the cost of the building in 2011 ?
2. Record White Brothers’ transactions related to the construction of the building.
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