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. Record the journal entry f solutionspile.com

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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. Record the journal entry for purchase of the land. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) solutionspile.com

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