Question: Refer to PE 3-5. Make the journal entry necessary to record the transaction. Data from PE 3-5 Allendorf Company purchased a building for $210,000. Th

Refer to PE 3-5. Make the journal entry necessary to record the transaction.

Data from PE 3-5

Allendorf Company purchased a building for $210,000. Th e company paid $80,000 of the purchase price in cash and signed a mortgage contract obligating it to pay the remaining $130,000 over the next 10 years.

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