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The debuts are wrong , how much should the debuts be ? White purchased land having a current market value of $110,000, a building with

The debuts are wrong , how much should the debuts be ? image text in transcribed
White purchased land having a current market value of $110,000, a building with a market value of $55,000, and equipment with a market value of $55,000. Journalize the lump-sum purchase of the three assets purchased for a total cost of $210,000 in exchange for a note payable. (Record debits first, then credits. Excluce explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Land Building Equipment Notes payable 110,000 55,000 55,000 210,000

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