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3. Fuller Corporation paid $3,600,000 in a lump sum purchase of land, a building and some equipment. Fuller paid $1,600,000 in cash and the rest
3. Fuller Corporation paid $3,600,000 in a lump sum purchase of land, a building and some equipment. Fuller paid $1,600,000 in cash and the rest in a six month 8% note payable. The purchase was made on November 1, 2021. An appraisal indicated the following market values at the time of the purchase. Land $1,000,000 Building $2,500,000 Equipment $500,000 Required: Journalize the purchase of these assets on Nov 1, 2021, the accrual of interest on the note payable
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