Beacon inc received a gift or land and building in win Pines Park as an inducement to relocate. The land and buildings have fair values of $53,000 and $535,000 Required: Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the entry on receiving a gift of Land and Building. Note: Enter debits before credits Transaction General Journal Debit 1 Credit Record 12 On July 1 2021, Markwell Company acquired equipment, Markwell paid $202,500 in cash on July 1, 2021, and signed a $810.000 noninterest-bearing note for the remaining balance which is due on July 1, 2022. An interest rate of 7% reflects the time value of money for this type of loan agreement (PV of S1. PVA of 5) (Use appropriate factor(s) from the tables provided.) 10 po For what amount will Markwell record the purchase of equipment? Multiple Choice 5959,510 $951092 3859,510 $112.500 13 A company purchased land for $92,000 cash Commissions of $13,000. property taxes of $13,500, and title insurance of $4.200 were also incurred, The $13,500 in property taxes includes $7.400 in back taxes paid by the company on behalf of the sefer and $6.100 due for the current year after the purchase date. For what amount should the company record the land? 10 port Multiple Choice $12.00 $122.700 $92000 $1.600