Make the journal entry to record the purchase of the land.
ACCT2110 Financial Accounting Chapter Nine Long-Lived Assets Homework Problem 1. On March 1, 2018, Geoffrey Company acquired real estate, on which it planned to construct a small office building, by paying $90,000 in cash. An old warehouse on the property was demolished at a cost of $ 8,200; the salvaged materials were sold for $1,700. […]