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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Windsor Industries purchased all the following assets and liabilities of Protector Goods for $906,000 cash:
Book Value
Fair Value
Accounts Receivable
$136,000
$136,000
Inventory
83,000
91,000
Property, Plant & Equipment (net)
519,000
644,000
Land
148,000
170,000
Accounts Payable
89,000
89,000
Notes Payable
108,000
108,000
Prepare the appropriate journal entries for Windsor Industries on acquisition. (If no entry is required, select "No Entry" for the account
titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all
debit entries before credit entries.)
Account Titles and Explanation
Debit
Credit
>
>
>
>
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