Rodriguez Company made the following payments related to a land acquisition: $\begin{array}{lc}
\text { Purchase price } & \$ 6,000 \
\text { Past due taxes } & 500 \
\text { Title search } & 150 \
\text { Cost of razing old building } & 300 \
\text { Interest (incurred after productive operations had begun) } & 160 \
\text { Proceeds from salvage of old building } & 85
\end{array}$ The recorded cost of the land should be

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The Answer of Rodriguez Company made the following payments related to a land acquisition: $\begin{array}{lc}
\text { Purchase price } & \$ 6,000 \
\text { Past due taxes } & 500 \
\text { Title search } & 150 \
\text { Cost of razing old building } & 300 \
\text { Interest (incurred after productive operations had begun) } & 160 \
\text { Proceeds from salvage of old building } & 85
\end{array}$ The recorded cost of the land should be

Rodriguez Company Made the Following Payments Related to a Land