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Title: A local government purchased land to be used for a new city hall to be built wit Post by: goji.go on Oct 21, 2014 A local government purchased land to be used for a new city hall to be built within the next five years. The purchase price was for the land's fair value, $1,500,000. The government financed the required $150,000 down payment by securing a short-term note with a local lending institution. The remaining $1,350,000 was financed by issuing certificates of participation. Costs incurred in issuing the certificates of participation totaled $60,000. The land should be capitalized in the General Capital Assets account in the amount of
A. $1,350,000. B. $1,410,000. C. $1,500,000. D. $1,560,000. Title: Re: A local government purchased land to be used for a new city hall to be built wit Post by: f_zah1 on Oct 22, 2014 Content hidden
Title: Re: A local government purchased land to be used for a new city hall to be built wit Post by: goji.go on Oct 23, 2014 Thanks so much f_zah1.
You were correct :D Title: Re: A local government purchased land to be used for a new city hall to be built wit Post by: f_zah1 on Oct 23, 2014 You're very welcome!
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