Business, 21.02.2020 01:02 Jazminruiz0527

Foley Distribution ServiceFoley Distribution Service
paid
$ 210 comma 000$210,000
for a group purchase of land, building, and equipment. At the time of the acquisition, the land had a market value of
$ 110 comma 000$110,000,
the building
$ 88 comma 000$88,000,
and the equipment
$ 22 comma 000$22,000.
Journalize the lump-sum purchase of the three assets for a total cost of
$ 210 comma 000$210,000,
the amount for which the business signed a note payable.(Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.

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Foley Distribution ServiceFoley Distribution Service
paid
$ 210 comma 000$210,000
...

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