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A company purchases land, buliding, and equipment for a single purchase price of $320,000. However, the estimated fair values of the land, building, and equipment
A company purchases land, buliding, and equipment for a single purchase price of $320,000. However, the estimated fair values of the land, building, and equipment are $147,000,$252,000, and $21,000, respectively, for a total estimated fair value of $420,000. Required: Determine the amounts the company should record in the separate accounts for the land, the bulding, and the equipment
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