Accounts Receivable Inventory Fixed Assets Accum Deprec $555,000 280,000 Accounts Payable 220,000 Note Payable 440,000 $800,000...

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Accounts Receivable Inventory Fixed Assets Accum Deprec $555,000 280,000 Accounts Payable 220,000 Note Payable 440,000 $800,000 400,000 (200,000) 600,000 300,000 Common Stock Retained Earnings Susie's Super Co. will buy Ann's Art Company for $2,000,000. They estimate that the Accounts Receivable are worth about $500,000, the Inventory is worth $290,000 and the Fixed Assets are worth $700,000. Everything else is worth its book value. Prepare the journal entry for the purchase on Susie's Super Co. books. Accounts Receivable Inventory Fixed Assets Accum Deprec $555,000 280,000 Accounts Payable 220,000 Note Payable 440,000 $800,000 400,000 (200,000) 600,000 300,000 Common Stock Retained Earnings Susie's Super Co. will buy Ann's Art Company for $2,000,000. They estimate that the Accounts Receivable are worth about $500,000, the Inventory is worth $290,000 and the Fixed Assets are worth $700,000. Everything else is worth its book value. Prepare the journal entry for the purchase on Susie's Super Co. books.

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To record the purchase of Anns Art Company by Susies Super Co the journal entry would be as follows ... View the full answer