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On April 12, 2023, Prism Ltd., a camera lens manufacturer, paid cash of $564,200 for real estate plus $30,500 cash in closing costs. The real
On April 12, 2023, Prism Ltd., a camera lens manufacturer, paid cash of $564,200 for real estate plus $30,500 cash in closing costs. The real estate included land appraised at $187,550; land improvements appraised at $96,800; and a building appraised at $320,650. Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)
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