FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Riverwood 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
Data table
Lot
Lot 1
Lot 2
Lot 3
Print
Appraised Value
70,500
141,000
258,500
$
Done
Debit
Credit
X
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