Shannon Company acquired land for $56,000 cash. Additional costs are as follow: Title and attorney's fee                                          $300 Insurance of one year                                             $1,500 Broker commission                                                  $1,130 Accrued Property taxes                                            $560   Shannon will record the acquisition cost of the land as a. $56,000 b. $57,500 c. $59,490 d. $57,990

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A: Solution of above question are explained below

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A: Hi student Since there are multiple questions, we will answer only first question.

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A:

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A:

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A: Introduction Journal entries for recording the given assets details are as follows