Question list Question 1 table Lot Lot 1 Lot 2 Lot 3 4 Appraised Value 129,000 279,500 21,500 $ K Oakwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Oakwood paid $265,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) - X Accounts and Explanation Land-Lot 1 Land-Lot 2 Land Lot 3 Cash To record purchase of the lots with cash Debit Credit 1 +

Oakwood Properties bought thee lots in a subdivision foe a lump-sum price An independent appraiser valued the lots as fottows (Click the icon to viow the values) Oakwood pald $265,000 in cash. Record the purchase in the journal, identifing each lofs cost in a separate Land account Round decimals to two places, and use the computed percentages throughout (Pecord a singlo compound feumat entry Record dabits first then credita Select the explanation on the last line of the journal entry table I Oakwood Properties bought theee lots in a subdivision for a lump-saim price An independent appraiset valued the lots as fothows: (Click the icon to view the valuet) Oakwood pald $265.000 in cast Record the purchase in the joumal idenbilying each lofs cont in a separate Land account found decimals to two places and use the computed percentages througheut. (Record a single compound lournal entry. Recoed debis first then credits. Select the explanation on the last line of the fournal entry table)