Transcribed Image Text
Rural Tech Support paid 150 000 for a group purchase of land building and equipment At the time of the acquisition the land had a market value of 80 000 the building 48 000 and the equipment 32 000 Journalize the lump sum purchase of the three assets for a total cost of 150 000 the amount for which the business signed a note payable Record a single compound journa entry Record debits first then credits Select the explanation on the last line of the journal entry table Date Accounts and Explanation SCOOIS Debit Credit
Other questions asked by students
Mechanical Engineering
Basic Math
Accounting
Accounting
Accounting
Accounting