Business, 26.11.2019 03:31 MaddieXMooo990

Lexington garden supply pays $ 280,000 for a group purchase of land, building, and equipment. at the time of acquisition, the land has a current market value of $ 93,000 , the building's current market value is $ 186,000 , and the equipment's current market value is $ 31,000. prepare a schedule allocating the purchase price of $ 280,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. the business signs a note payable for the purchase price.

prepare a schedule allocating the purchase price of $ 280,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. the business signs a note payable for the purchase price.

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Lexington garden supply pays $ 280,000 for a group purchase of land, building, and equipment. at the...

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