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5. V's Violins Purchases a building for their store on January 2nd. They purchase the building and land for $200 000 total using a bank

5. V's Violins Purchases a building for their store on January 2nd. They purchase the building and land for $200 000 total using a bank loan. The market values for these assets is:

Building $200 000

Land $150 000

Record the journal entry for the purchase. (3A 1C)

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