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5. Dakota Company purchased several assets from a competitor, paying a lump-sum of $1,000,000 (one million dollars). The assets included: i. Land - valued at

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5. Dakota Company purchased several assets from a competitor, paying a lump-sum of $1,000,000 (one million dollars). The assets included: i. Land - valued at $450,000 ii. Building - valued at $380,000 iii. Equipment - valued at 570,000 Record the journal entry on March 17, 2020

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