Question
On October 17, Nikle Company purchased a building and a plot of land for $737,100. The building was valued at $368,600 while the land carried
On October 17, Nikle Company purchased a building and a plot of land for $737,100. The building was valued at $368,600 while the land carried a value of $368,500. Nikle paid $66,900 down in cash and signed a notes payable for the balance.
Prepare the journal entry for this transaction. If an amount box does not require an entry, leave it blank.
| Oct. 17 | Building | |
| Land | ||
| Cash | ||
| Notes Payable |
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Cost Accounting Foundations And Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
7th Edition
0324560559, 978-0324560558
