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Rodriguez Company pays $389,610 for real estate with land, land improvements, and a building. Land is appraised at $196,000, lend improvements are appraised at
Rodriguez Company pays $389,610 for real estate with land, land improvements, and a building. Land is appraised at $196,000, lend improvements are appraised at $73,500, and the building is appraised at $220,500. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.
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Accounting Information Systems
Authors: Ulric J. Gelinas, Richard B. Dull
10th edition
9781305176218, 113393594X, 1305176219, 978-1133935940
