Sea Scout purchased a car wash for $240,000. If purchased separately, the land would have cost $60,000,

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Sea Scout purchased a car wash for $240,000. If purchased separately, the land would have cost $60,000, the building $135,000, and the equipment $105,000. Determine the amount that should be recorded in the new business’s records for land, building, and equipment.

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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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