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5 February, 05:41

Gagner Clinic purchases land for $150,000 cash. The clinic assumes $1,500 in property taxes due on the land. The title and attorney fees totaled $1,000. The clinic has the land graded for $2,200. What amount does Gagner Clinic record as the cost for the land?

a. $132,200

b. $154,700

c. $150,000

d. $132,500

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Answers (1)
  1. 5 February, 07:22
    0
    B. $154,700

    Explanation:

    $150,000 + $1,500 + $1,000 + $2,200 = $154,700
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