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(b) On January 1, land ($250 000) and a building ($240 000) were purchased for JM Catering. Part payment of $300 000 was made and
(b) On January 1, land ($250 000) and a building ($240 000) were purchased for JM Catering. Part payment of $300 000 was made and a loan payable was created for the remaining amount. i. Enter the transaction into the following worksheet (2 marks): Page 3 of 10 Date Cash Land & Buildings Loan Payable Capital Jan-01
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