Barton Resort Incurred the Following Costs to Acquire and Prepare

Multiple Choice

Barton Resort incurred the following costs to acquire and prepare land during 2015 for a new parking lot: purchase price for land, $800,000; cost to clear the land, $30,000; cost of paving, $40,000; and lighting for the parking lot, $20,000.How much should Barton record in the Land Improvements account?

A) $30,000
B) $40,000
C) $60,000
D) $90,000