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Massey Corporation purchased a piece of land for $50,000

Accounting

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Massey Corporation purchased a piece of land for $50,000. It paid attorney's fees of $5,000 and brokers' commissions of $4,000. An old building on the land was torn down at a cost of $2,000, and proceeds from the scrap were $500. The total to be debited to the Land account is:

a. $50,000

b. $61,000

c.   $60,500

d. $59,000