What amount should be recorded as cost of building, Accounting Basics

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What amount should be recorded as cost of building

Response to the following problem:

Arlette's Pet Shop purchases a building. The purchase price per the contract is $250,000. The cost of building permits is $3,500. Conversion costs to kennel and pet care facilities total $125,000. What amount should be recorded by Arlette's Pet Shop as the cost of the building?

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Accounting Basics: What amount should be recorded as cost of building

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Accounting Basics: What amount should be recorded as cost of building

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