AFIA Corporation purchased a tract of land for $765,000, which included a warehouse and office...
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AFIA Corporation purchased a tract of land for $765,000, which included a warehouse and office building. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land $300,000 $250,000 Warehouse 200,000 150,000 Office building 400,000 300,000 $900,000 $700,000 What are the appropriate amounts that AFIA should record for the land, warehouse, and office building, respectively?
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