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Bridge City Consulting bought a building and the land on which it is located for...

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Accounting

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Bridge City Consulting bought a building and the land on which it is located for $130,000 cash. The land is estimated to represent 50 percent of the purchase price. The renovations before it was ready for use company paid $20,000 for building 1. 300 points Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year (If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general

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