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Boltwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser...

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Accounting

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Boltwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Boltwood paid $265,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Data Table Lot Appraised Value = 1 $ 198,000 N 154,000 w 88,000 Print Print Done Done

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