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Mohave Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $1,102,500. The estimated fair values of the assets are land
Mohave Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $1,102,500. The estimated fair values of the assets are land $210,000, building $770,000, and equipment $280,000. At what amounts should each of the three assets be recorded? (Round final answers to 0 decimal places, e.g. 5,275.)
Recorded Amount
Land $
Building $
Equipment $
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