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Red Cedar Bakery purchases land, bullding, and equipment for a single purchase price of $220,000. However, the estimated fair values of the land, building, and

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Red Cedar Bakery purchases land, bullding, and equipment for a single purchase price of $220,000. However, the estimated fair values of the land, building, and equipment are $96,000,$192,000, and $32,000, respectively, for a total estimated fair value of $320,000 Required: Determine the amounts Red Cedar should record in the separate accounts for the land, the buliding, and the equipment

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