Account for basket purchase. (LO 1) Tylo Corporation obtained a building, its surrounding land, and a delivery
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Account for basket purchase. (LO 1)
Tylo Corporation obtained a building, its surrounding land, and a delivery truck in a lumpsum purchase for \(\$ 230,000\). An appraisal set the value of land at \(\$ 180,000\), the building at \(\$ 145,000\), and the truck at \(\$ 25,000\). At what amount should Tylo record each new asset on its books?
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