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Swifty Company acquires land for $86,500 cash. Additional costs are as follows: Removal of...

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Accounting

Swifty Company acquires land for $86,500 cash. Additional costs are as follows:
Removal of shed
$350
Filling and grading
1,600
Salvage value of lumber of shed
150
Broker commission
1,510
Paving of parking lot
9,800
Closing costs
590
Swifty will record the acquisition cost of the land as
$90,040.
$100,200
$90,400
$100,500
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