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2 Belmont Corporation made a basket purchase of land, a building and equipment, paying a total of $1,500,000. Market values for the assets were not
2 Belmont Corporation made a basket purchase of land, a building and equipment, paying a total of $1,500,000. Market values for the assets were not available, but the appraised values were $300,000 for the land, $900,000 for the building, and $600,000 for equipment. What amounts should be recorded in the Land, Building, and Equipment accounts, respectively? Multiple Choice $300,000, $900,000, and $600,000 $1,500,000, $-0-, and $-0- $250,000, $750,000, and $500,000 $500,000, $500,000, and $500,000
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