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need help Questor Applications pays $270,000 for a group purchase of land, bulling, and equipment. At the Sime of accuisitian, the land has a current
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Questor Applications pays $270,000 for a group purchase of land, bulling, and equipment. At the Sime of accuisitian, the land has a current markot value of 575,000 , the building's current market value is $90,000, and the equipments current markat value is $135,000. Prepare a schedule allocathg the purchase price of $270,000 to each of the individual issets purchasod based on that relative market values, then journalize the fump-sum purchase of the three assets. The business signs a note payable for the purchase price. Prepare a schedule allocating the purchose price of $270,000 to esch of the individual assets purchased based an their relative markat values, then journaize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. Begin by preparing a schedule allocating the purchase price of $270,000. (Do not erster the % sign within the irpui fieids of the Percentage of Total Markot column.) Step by Step Solution
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