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Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvement appraised at
Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvement appraised at $58,890; and a building appraised at $176,670. Allocate the total cost among the three purchased assets and prepare the journal entry to record the purchase
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Fundamentals Of Advanced Accounting
Authors: Joe Ben Hoyle
8th Edition
1260575926, 978-1260575927
