Purchased land and a small office building for a total, Ask an Expert

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Purchased land and a small office building for a total price of $90,000, of which $35,000 was the value of the land and $55,000 was the value of the building. Paid $ 22,500 in cash and signed a note payable for the remaining $67,500. How do you log these on the balance sheet.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9795350

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