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2. Boston Corporation purchased the following assets from Bradley Corporation for $1,300,000. An independent appraisal of the fair value of the assets acquired is listed

2. Boston Corporation purchased the following assets from Bradley Corporation for $1,300,000. An independent appraisal of the fair value of the assets acquired is listed below:

Land........................ $214,500

Building 357,500

Equipment.572,000

Patent.286,000

Required: Prepare the journal entry to record the purchase of the assets.

I need help with the Patent, I am not sure if it gets recorded or not.

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