Great Plains Company purchases land for $590,000. In addition, the company also pays $2,000 for a survey fee and $3,000 for broker commissions. The company paid cash. The
joumal entry would be:
A. Land
595,000
Cash
595,000
B. Land
590,000
Cash
590,000
C. Land
Broker & Survey Expense
590,000
5,000
Cash
595,000
D. Land
595,000
Notes Payable
595,000