Acer, Inc plans to develop a shopping center
In the first quarter, the following amounts were spent:
Acquisition of land $17,000
Surveys and legal fees 600
Land clearing 800
Fencing 5,000
Install lighting and signage 1,560
What amount should be recorded as the cost of the land in the corporation's books?
A) $23,400
B) $18,400
C) $19,960
D) $22,800
B .Acquisition of land $17,000
Surveys and legal fees 600
Land clearing 800
Cost of land $18,400
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