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Boltwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: (Click the icon to view
Boltwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Boltwood paid $400,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Data Table Date Accounts and Explanation Debit Lot 1 Appraised Value $ 122,500 220,500 147,000 Print Done Choose from any list or enter any number in the input fields and then click Check
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