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5. Juno Corporation purchased a manufacturing plant building from Mayo interest and were issued at par. The building has an estimated useful life Required: Prepare

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5. Juno Corporation purchased a manufacturing plant building from Mayo interest and were issued at par. The building has an estimated useful life Required: Prepare the journal entry for the purchase of the plant building, and and the entry for depreciation of the plant building for 2018. (Use the Straight Line Corporation on July 1, 2018 for $20,000,000. Juno paid S5,000,000 in cash and financed the rest with bonds payable. The bonds paid 7% of 40 years with no residual value. the payment of interest on January 1, 2018 (and any December 31 adjusting entries) method)

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