Pharoah Clinic purchases land for $490000 cash. The clinic assumes $5300 in property taxes due on the land. The title and attorney fees totaled $2600. The clinic had the land graded for $6400. What amount does Pharoah Clinic record as the cost for the land? $497900. $496400. $490000. $504300.

Pharoah Clinic purchases land for $490000 cash. The clinic assumes $5300 in property taxes due on the land. The title and attorney fees totaled $2600. The clinic had the land graded for $6400. What amount does Pharoah Clinic record as the cost for the land? $497900. $496400. $490000. $504300.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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$497900.

$496400.

$490000.

$504300.

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