Guac Co. paid $350,000 for a purchase that included land, a building, and equipment. An appraisal estimated the market value of the land to be $80,000, the building to be $300,000, and the equipment to be $20,000. Based on this information recording the basket purchase in the accounting recowould cause?

Mile Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $100,000. The seller agreed to allow a 4 percent discount because Mile Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $500. Mile Milling had to hire a consultant to train an employee to operate the loader. The training fee was $1,000. The loader operator is paid an annual salary of $30,000. The cost of the company's theft insurance policy increased by $800 per year as a result of acquiring the loader