Wesley Hospital installs a new parking lot.The paving cost $40,000 and the lights to illuminate the new parking area cost $25,000.Which of the following statements is true with respect to these additions?
A) $40,000 should be debited to the Land account.
B) $25,000 should be debited to Land Improvements.
C) $65,000 should be debited to the Land account.
D) $65,000 should be debited to Land Improvements.
Correct Answer:
Verified
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