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6. A package of land, building and equipment is bought at a lump-sum price of RO 110000. By appraisal, the fair market value of these

6. A package of land, building and equipment is bought at a lump-sum price of RO 110000. By appraisal, the fair market value of these items is determined to be RO 50000, RO 30000 and RO 20000, respectively. Allocate the RO 110000 cost to each item and prepare a journal entry

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