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Pitney Co. purchased an office building, land, and furniture for $800,000 cash. The appraised value of the assets was as follows: Land Building Furniture
Pitney Co. purchased an office building, land, and furniture for $800,000 cash. The appraised value of the assets was as follows: Land Building Furniture Total $ 89,600 358,400 448,000 $896,000 Required a. Compute the amount to be recorded on the books for each asset. b. Record the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount to be recorded on the books for each asset. (Do not round intermediate calculatio answers to nearest whole dollar.) Allocated Cost Land Building Furniture Total
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