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5. Land and a hotel building were acquired for $14,500,000. The owner paid $7,000,000 in cash and signed a note payable for the remaining
5. Land and a hotel building were acquired for $14,500,000. The owner paid $7,000,000 in cash and signed a note payable for the remaining amount. What would be the journal entry for that transaction if an appraisal showed the estimated values to be $4,500,000 for the land and $10,000,000 for the hotel? (10 pts)
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Financial Accounting with IFRS Fold Out Primer
Authors: John Wild
5th edition
978-0077408770, 77408772, 978-0077413804
