Question 47 Baxter, Corporation purchased land, building, and equipment for a single price of $750,000. An appraisal revealed the following fair market values for each: land $200,000, building $500,000, and equipment $100,000. Which of the following is the correct entry to record this transaction? none of the answer choices 3 pts debit Land $187,500, debit Buildiing $468,750, debit Equipment $93,750, credit Cash $750,000ng Debit Land $50,000, debit Building $312,500, Debit Equipment $12,500, Debit Increase in Market Value $375,000, credit Cash $750,000 debit Land $200,000, debit Building $500,000, debit Equipment $100,000, debit Loss on Transaction $50,000, credit Cash $800,000 debit Land $200,000, debit Building $500,000, debit Equipment $100,000, credit Gain on Purchase $50,000, credit Cash $750,000

Baxter, Corporation purchased land, building, and equipment for a single price of $750,000. An appraisal revealed the following fair market values for each: land $200,000, building $500,000, and equipment $100,000. Which of the following is the correct entry to record this transaction? none of the answer choices debit Land $187,500, debit Buildiing $468,750, debit Equipment $93,750, credit Cash $750,000ng Debit Land $50,000, debit Building \$312,500, Debit Equipment $12,500, Debit Increase in Market Value $375,000, credit Cash $750,000 debit Land $200,000, debit Building $500,000, debit Equipment $100,000, debit Loss on Transaction $50,000, credit Cash $800,000 debit Land $200,000, debit Building $500,000, debit Equipment $100,000, credit Gain on Purchase $50,000, credit Cash $750,000