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Westwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: (Click the icon to view

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Westwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Westwood paid $380,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Land-Lot 1 Land-Lot 2 129,000 75,250 10.750 Land-Lot 3 Cash To record purchase of the lots with cash 380,000 Data Table - X Lot Lot 1 Appraised Value S 258,000 150,500 21,500 Lot 2 Lot 3 Print Done

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