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Westwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots a 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 a 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 Debit Credit Accounts and Explanation Land-Lot 1 Land-Lot 2 Land-Lot 3 Cash To record purchase of the lots with cash 129,000 75.250 10.750 380,000 - X Data Table Lot Lot 1 Appraised Value $ 258,000 150.500 21.500 Lot 2 Lot 3

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