Homework:

Question $2$

Chapter $10$

EF$10-18$

of $72$ points

Homework

Points:

$3\mathrm{.}33$ of $5$

Westwood 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.$)$

Westwood paid $$415,000$ 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.$)$

Data table

Da

$\backslash$table$[[$Lot$,$Appraised Value$],[$Lot $1,$$$,282,000],[$Lot $2,,117,500],[$Lot $3,,70,500]]$