Deadwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: Deadwood paid $290,000 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.)

Deadwood 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.) Deadwood paid $290.000 in cash. Record the purchase in the joumal, 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 Joumal entry table.) Date Accounts and Explanation Debit Credit Data Table Lot 1 Appraised Value $ 270,000 135,000 2 Accumulated Depreciation Building Cash Depreciation Expense Gain on Disposal Land-Lot 1 Land-Lot 2 Land-Lot 3 Loss on Disposal Notes Payable 3 45,000 Print Done