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Need help asap! [The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,800,000 for land,

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[The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,800,000 for land, Building 1, Building 2, and Land improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $610,000, with a useful life of 20 years and a $85,000 salvage value. Land Improvements 1 is valued at $549,000 and is expected to last another 18 years with no salvage value. The land is valued at $1,891,000. The company also incurs the following additional costs. blem 8-3A (Algo) Part 1 uired: locate the costs incurred by Mitzu to the appropriate columns and total each column. Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column. Journal entry worksheet Record the cost of the plant assets, paid in cash. Note: Enter debitul before creditw. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Building 2. Note: Enter debits before credits

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