(Solved): Alton Clothing purchased land, paying $88,000 cash plus a $250,000 note payable. In addition, Alton ...

Alton Clothing purchased land, paying $\$88,000$ cash plus a $\$250,000$ note payable. In addition, Alton paid delinquent property tax of $\$1,900$, title insurance costing $\$500$, and $\$4,200$ to level the land and remove an unwanted building. Record the journal entry for purchase of the land. Resin hy determinina the rect of the land