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  3. a company buys property consisting of land for $70

A company buys property consisting of land for $70,00 and a building for $150,000 on...

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Accounting

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A company buys property consisting of land for $70,00 and a building for $150,000 on January 1, 2021 for cash. What accounting entry should be made at the time of purchase? . Based on the facts presented in question 9 above assume the company uses the straight line method of depreciation and the purchased asset has a useful life of 10 years with a salvage value of $18,000 at the end of the asset's useful life. What is the accounting entry that the company should make at the end of December 31,2021 ? A company buys property consisting of land for $70,00 and a building for $150,000 on January 1, 2021 for cash. What accounting entry should be made at the time of purchase? . Based on the facts presented in question 9 above assume the company uses the straight line method of depreciation and the purchased asset has a useful life of 10 years with a salvage value of $18,000 at the end of the asset's useful life. What is the accounting entry that the company should make at the end of December 31,2021

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