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On October 17, Nikle Company purchased a building and a plot of land for $464,400. The building was valued at $195,000 while the land carried

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On October 17, Nikle Company purchased a building and a plot of land for $464,400. The building was valued at $195,000 while the land carried a value of $269,400. Nikle paid $59,400 down in cash and signed a notes payable for the balance. Prepare the joumal entry for this transaction. If an amount box does not require an entry, leave it blank. Oct. 17

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