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Presented below is information related to Vaughn Company. 1. On July 6 , Vaughn Company acquired the plant assets of Doonesbury Company, which had discontinued

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Presented below is information related to Vaughn Company. 1. On July 6 , Vaughn Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is: Vaughn Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a market price of $168 per share on the date of the purchase of the property. 2. Vaughn Company expended the following amounts in cash between July 6 and December 15 , the date when it first occupied the building. 3. On December 20 , the company paid cash for equipment, $520.000, subject to a 2% cash discount, and freight on equipment of $21,000 Prepare entries on the books of Vaughn Company for these transactions, (Do not round intermediate cakculations and final answers to O decimal ploces es, 58,971. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the occount titles and enter O for the amounts. List all debit entries before credit entries )

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