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Question(s) / Instruction(s):

A company purchased property for $130,000. The property included a building, a parking lot, and land. The building was appraised at $68,000; the land at $40,000, and the parking lot at $15,000. The value of the land to be recorded in the accounting records is: A. $130,000 B. $40,000 C. $0 D. $42,276 E. $58,130

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