1. Benton Bamers pays $220,000 cash for a group purchase of land, bulding, and equipment....
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Accounting
1. Benton Bamers pays $220,000 cash for a group purchase of land, bulding, and equipment. At the time of acquisition, the land had a fair value of $84,000, the buliding $144,000, and the equipment $12,000, Journalize the lump-sum purchase. Now, joumalize the lump-sum purchase. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the joumal
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