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Need Help: A company purchased property for $100,000. The property included a building, a...

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Accounting

Need Help:

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $59,500; the land at $47,000, and the parking lot at $18,500. Land should be recorded in the accounting records with an allocated cost of:

Multiple Choice

A. $0.

B. $37,600.

C. $100,000.

D. $47,000.

E. $43,600.

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