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Whyte Clinic purchases land for $420,000 cash. The clinic assumes $4,500 in property taxes due...

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Accounting

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Whyte Clinic purchases land for $420,000 cash. The clinic assumes $4,500 in property taxes due on the land. The title and attorney fees totaled $3,000. The clinic had the land graded (leveled) for $6,600. What amount does Whyte Clinic record as the acquisition cost of the land? $434,100. $427,500. $426,600. $420,000

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