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Concord Pet Care Clinic pays $330,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current

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Concord Pet Care Clinic pays $330,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $216,000, the building's current market value is $72,000, and the equipment's current market value is $72,000. Prepare a schedule allocating the purchase price of $330,000 to each of the Individual assets purchased based on their relative market values, then journalize the lump sum purchase of the three assets. The business signs a note payable for tho purchase price Prepare a schedule allocating the purchase price of $330,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price Begin by preparing a schedule allocating the purchase price of $330,000. (Do not enter the sign within the input fields of the Percentage of Total Market column) Market (Sales) Percentage of Total Cost of Each Asset Value Market Value Asset Land % Building Equipment % 100 % Total

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