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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I want to correct answer general accounting question

Transcribed Image Text:Mountain View Corp purchased land and a warehouse for a lump
sum of $600,000. The independent appraisal showed fair values of
$450,000 for the land and $300,000 for the warehouse. Prepare the
journal entry to record this purchase.
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