Eli Johnson associates service American eating habits the companies accounts include land buildings office equipment and communication equipment with a separate accumulated depreciation account for each depreciable asset during 2024 Eli Johnson associates completed the following transactions

Acquired land and communication equipment in a lump sum purchase total cost was $310,000 paid in cash and independent appraisal value of the land at $244,125 and the communication equipment at $81,375 record a single compound journal entry