Assume Maplewood Manufacturing bought three machines in a $90,000 lump-sum purchase. An independent appraiser valued...
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Assume Maplewood Manufacturing bought three machines in a $90,000 lump-sum purchase. An independent appraiser valued the machines as follows: (Click the icon to view the valuation.) Maplewood paid one-third in cash and signed a note payable for the remainder. What is each machine's individual cost? Immediately after making this purchase, Maplewood sold machine 2 for its appraised value. What is the result of the sale? Prepare the journal entry to record the sale. .... Maplewood paid one-third in cash and signed a note payable for the remainder. What is each machine's individual cost? (Round the proportions to three decimal places. Round your final costs answers to the nearest whole dollar.) Machine 1's cost is $ Machine 2's cost is $ Machine 3's cost is $ Immediately after making this purchase, Maplewood sold machine 2 for its appraised value. What is the result of the sale? (Round your answer to nearest dollar.) The result of the sale is a of $ Prepare the journal entry to record the sale. (Record debits first, then credits. Explanations are not required.) Valuation Date Accounts Debit Credit Machine Number Appraised Value 1 $ 22,000 2 47,000 3 41,000 Print Done
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