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On October 17, Nikle Company purchased a building and a plot of land for $616,200. The building was valued at $332,748 while the land carried
On October 17, Nikle Company purchased a building and a plot of land for $616,200. The building was valued at $332,748 while the land carried a value of $283,452. Nikle paid $70,100 down in cash and signed a note payable for the balance. Required: Provide the journal entry for this transaction. Refer to the Chart of Accounts for exact wording of account titles
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