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Tonto Company purchased all property for $280,000. The property included a building, equipment, and land....

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Accounting

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Tonto Company purchased all property for $280,000. The property included a building, equipment, and land. The building was appraised at $175,000, the land at $126,000, and the equipment at $49,000. Required: Prepare journal entries to record the above transactions assuming all the basket purchase was paid for using cash. (If no entry is required for o transoction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Tonto Company purchased all property for $280,000. The property included a building, equipment, and land. The buliding was appraised at $175,000, the tand at $126,000, and the equipment at $49,000. Prepare the fournal entry to record the proporty basket purchyse. Pate: Enter debits before credits

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