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On March 1, 2023, Bridgcport Corp. auired a 10 unit residentiat complex for $1,263000,0 pat in cash. Aninutependent aporaiser determined that 75 X of the

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On March 1, 2023, Bridgcport Corp. auired a 10 unit residentiat complex for $1,263000,0 pat in cash. Aninutependent aporaiser determined that 75 X of the total purchame price should be allocated to buildings, with the remainafer atloeated to land On the date of acquisition, the buildine's estimated usefut life was 25 years, with estimated residual value of $325, 200 . Bridgeportestimatees that straight-line depreciation would best reflect the pattern of benefits it will receive from the buildine fair value of thut cornplex, as assessed by an independent appraiser on each date, is as follows: he complex quafifies as an investment property under IAS 40 Investment Property. Bridgeport has a December 31 year end. Prepare the jourmal entrins required for 2023,2024 , and 2025 , assuming that Br idpeport applies the tair value model to al of iss imestment property. (Credit occount titles are outomotically Indented when the amount is entered, Do not indent monumlis if mo entry is nequlred, select "No Entry" for the occount tibes and enter O for the amounts. Wht all debit entrles before credit entrles Record entrles in the order presented in the problem) Prepare the journal entries required for 2023, 2024, and 2025, assuming that fridgeport applies the cont model io all of its irwestment proper ty. (Credil occount tides are oubomotically inderited when the amount is entered. Do not indent manually. If no entry is ropulred, select "No Entry" for the account tities and enter Ofor the amounts. Ust all deblt entries before credit entries. Rourd answen to 0 declmol places, es. 5,275. Record entries in the order presented in the probiems

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