Instructions Chart of Accounts General Journal Instructions On October 17, Nikle Company purchased a building and a plot of land for $589,200. The building was valued at $312,276 while the land carried a value of $276,524, Nikle paid $61,900 down in cash and signed a pote payable for the balance Required: Provide the journal entry for this transaction. Refer to the Chart of Accounts for exact wording of account sites. E Instructions Chart of Accounta General Journal Instructions Chart of Accounts Or ASSETS $6 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid insurance 15 Land 16 Office Equipment 17 Building 18 Truck REVENUE 41 Fees Eamed EXPENSES 51 Wages Expense 53 Rent Expense 54 Utilites Expense 55 Maintenance Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable $312.276 while the land carried a value of $276,924. Nike paid itles. SHEETA. Instructions Chart of Accounts General Journal Instructions Or 8 Chart of Accounts LIABILITIES 21 Accounts Payable 22 Uneamed Revenue 23 Notes Payable SHEET.A... SHEET.A... HEET.A... EQUITY 31 Common Stock 32 Retained Eamings 33 Dividends x $312.276 while the land carried a value of $276,924. N ides instructions Chart of Accounts General Journal General Journal wording of account bites DATE DESCRIPTION JOU AL PAGE 1 ACCOUNTING EQUATION POST REF DEBIT CREDIT ASSETS LIABLITIES EQUITY