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Imagine that Steez Inc. pays $2,000 in architect fees for their new building. Would we record this in the land or building account, and how much would we record?
Imagine that the demolition of Steez Inc.’s building costs $10,000 and they’re able to salvage & sell $1,000 of old-building materials. Would we record this in the land or building account, and how much would we record?