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On March 1,2017, Blossom Company acquired real estate, on...

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Accounting

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On March 1,2017, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $ 75,000 in cash. An old warehouse on the property was demolished at a cost of $7,200; the salvaged materials were sold for $ 1,500 Additional expenditures before construction began included $ 1,000 attorney's fee for work concerning the land purchase, $ 4,000 real estate broker's fee, S$ 8,500 architect's fee, and $ 13,000 to put in driveways and a parking lot. (a) Determine the amount to be reported as the cost of the land. Cost of land

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