Question
**Is this a correct journal entry?? The company purchased office facilities for $300,000, of which $60,000 was applicable to the land and $240,000 to the
**Is this a correct journal entry??
The company purchased office facilities for $300,000, of which $60,000 was applicable to the land and $240,000 to the building. A cash payment of $100,000 was made and a note payable was issued for the balance of the purchase price.
April 6 Journal
| 6-Apr | Building | $ 240,000.00 | ||||
| Land | $ 60,000.00 | |||||
| Cash | $ 100,000.00 | |||||
| Note payable | $ 200,000.00 | |||||
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Content Audits And Inventories A Handbook For Content Analysis
Authors: Paula Ladenburg Land
2nd Edition
1937434826, 978-1937434823
