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25. Anderson Corporation purchased a group of assets and paid a total of $120.000 cash. The assets and their current market values are listed below.

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25. Anderson Corporation purchased a group of assets and paid a total of $120.000 cash. The assets and their current market values are listed below. Land $55,000 Equipment 10,000 Building 35,000 Prepare the journal entry to record the purchase of the lump sum assets assuming the purchase was paid in cash (show your calculations). (7 points)

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