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pls provide a journal entries only x ty Indicate for each transaction the account(s) and amount(s) that should be debited and credited. a. On January
pls provide a journal entries only x ty
Indicate for each transaction the account(s) and amount(s) that should be debited and credited. a. On January 1, 2014 purchased land with a usable office building there on for cash of P2,000,000. Tax assessment values: Land, P200,000; Building, P600,000; b. January 1, 2015, purchased land for future building site for a cash of P400,000; an old building on this site, appraised at P20,000 at the date of purchase, is to be torn down immediately. c. Net cash cost of demolishing the old building (refer to b), P20,000. d. Cash cost of excavation for the basement of the new building (refer to b) was P60,000. e. Attorney's fees paid in connection with purchase of real estate in (refer to b), P9,000 Step by Step Solution
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