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1. Wholesale Banners pays $240,000 cash for a group purchase of land, building, and equipment. At the time of acquisition, the land has a market

1. Wholesale Banners pays $240,000 cash for a group purchase of land, building, and equipment. At the time of acquisition, the land has a market value of 52,000, the building $169,000, and the equipment $39,000. Journalize the lump-sum purchase

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