Question: Bachman, Inc. plans to develop a shopping center. In the first quarter, the following amounts were spent: Acquisition of land $ 18,000 Surveys and legal

Bachman, Inc. plans to develop a shopping center. In the first quarter, the following amounts were spent:

Acquisition of land

$ 18,000

Surveys and legal fees

1,500

Land clearing

700

Fencing

6,000

Install lighting and signage

1,160

What amount should be recorded as the cost of the land in the corporation's books?

A 20,200

B 21,360

C 26,200

D 24,700

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