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On 3uly 1, 2026 , Cullumber Corporation purchased a parcel of land as a factory...

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Accounting

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On 3uly 1, 2026 , Cullumber Corporation purchased a parcel of land as a factory site for $654000. In addition to the land purchase price, the following costs were incurred: Salvaged materials resulting from demolition were sold for $10000. Cullumber should record the cost of the land and land improvements, respectively, at $838000 and $102000 $699500 and 240500 $707000 and $233000. $848000 and $102000

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