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On April 12, 2023, Prism Ltd., a camera lens manufacturer, paid cash of $575,000 for real estate plus $31,400 cash in closing costs. The real
On April 12, 2023, Prism Ltd., a camera lens manufacturer, paid cash of $575,000 for real estate plus $31,400 cash in closing costs. The real estate included land appraised at $221,040; land improvements appraised at $55,260; and a building appraised at $337,700. Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet
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