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Mohave Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $362,250. The estimated fair values of the assets are land $69,000, building $253,000, and equipment $92,000. At what amounts should each of the three assets be recorded? (Note: Do not round the computation of the % of total.)

Recorded Amount
Land $
Building $
Equipment $

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M942726

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