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Pitney Company purchased an office building, land, and furniture for $ 7 9 0 , 0 0 0 cash. The appraised value of the assets
Pitney Company purchased an office building, land, and furniture for $ cash. The appraised value of the assets was as follows:
Land $
Building
Furniture
Total $
Required
Compute the amount to be recorded on the books for each asset.
Show the purchase in a horizontal statements model.Show the purchase in a horizontal statements model.
Note: In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net ch
and cash outflows with a minus sign. Not all cells require input. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
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