Novak Corp. purchased land for a new parking lot for $140000. The paving cost $176000 and the lights to illuminate the new parking area cost $40000. Which of the following statements is true with respect to these additions? a. $216000 should be debited to Land Improvements. b. $356000 should be debited to the Land account. c. $356000 should be debited to Land Improvements. d. $316000 should be debited to the Land account.
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Home » Business » Novak Corp. purchased land for a new parking lot for $140000. The paving cost $176000 and the lights to illuminate the new parking area cost $40000. Which of the following statements is true with respect to these additions? a.