Answer:
$180,000
Explanation:
According to the historical cost principle, the land should be recorded at purchase price or acquisition price whether appraisal value is also given but it always recorded at historical price at which the land is purchased
In the given case, a piece of land is purchased for $180,000 and the appraisal value is also given so for recording the land value, we recorded at the $180,000 only.
