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Venice Treasures purchased a land and building for $900,000 in cash, which was a deal considering the land is worth $200,000 and the building is
Venice Treasures purchased a land and building for $900,000 in cash, which was a deal considering the land is worth $200,000 and the building is worth $800,000. Please fill in the blanks indicating the amounts that the land and building will be recorded on the balance sheet (i.e., their historical costs). The land will be recorded at an amount of , and the building will be recorded at an amount of Please fill in the blanks with just numbers, i.e., no decimals, dollar signs, or commas (e.g, 20000)
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