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Required Information

E$9-2($Algo$)$ Computing and Recordlng a Basket Purchase and Stralght$-$LIne Depreclation $[$LO $9-2,$ LO $9-3]$

$[$The following Information applies to the questions displayed below.$]$

Bridge City Consulting bought a bullding and the land on which it is located for $$125,000$ cash. The land is estimated to

represent $60$ percent of the purchase price. The company pald $$10,000$ for bullding renovations before it was ready for

use.

E$9-2($Algo$)$ Part $2$

Required:

Prepare the Journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the

year. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" In the flrst account fleld.$)$