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On September 8, 2020, Swanway Corporation purchased the following assets: a building, land, and machinery. The appraised values of the assets were $1,148,000 for land,
On September 8, 2020, Swanway Corporation purchased the following assets: a building, land, and machinery. The appraised values of the assets were $1,148,000 for land, $803,600 for machinery, and $918,400 for the building. The total purchase price of all three assets was $2,470,000. The company paid cash of $310,000 and signed a note payable for the remaining balance. Required a) Complete the table to determine the cost of the assets. Do not enter dollar signs or commas in the input boxes. Round all numhers to 2 derimal nlares. b) Prepare the journal entry to record the purchase. Enter the debit accounts in alphabetical order. Fnter the credit arcounts in alohabetical order
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