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Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,850,000. Harding paid $875,000 and issued a note payable for
Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,850,000. Harding paid $875,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $925,000; Building, $2,750,000 and Equipment, $1,825,000. What journal entry would be used to record the purchase of the above assets? (Do not round intermediate calculations.) Multiple Choice
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