Nikle paid 300000 down in cash and signed a note payable, Ask an Expert

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On October 17th, Nikle Company purchased a building and a plot of land for $750,000. The building was valued at $500,000 while the land carried a value of $250,000. Nikle paid $300,000 down in cash and signed a note payable for the balance. Prepare the journal entry to record this transaction.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M971143

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