Question: Please explain the solution to this general accounting problem with accurate principles. Franklin Corp. acquired land for a new warehouse project. The company paid $225,000

Please explain the solution to this general accounting problem with accurate principles.

Franklin Corp. acquired land for a new warehouse project. The company paid $225,000 in cash and incurred $15,000 in legal and title transfer fees directly related to the acquisition. All payments were made upfront. The accounting team needs to record the land on the balance sheet. What is the acquired cost of the land

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