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Cold Stone Bakery purchases land, building, and equipment for a single purchase price of $240,000....

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Accounting

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Cold Stone Bakery purchases land, building, and equipment for a single purchase price of $240,000. However, the estimated fair values of the land, building, and equipment are $85,000,$187,000, and $68,000, respectively, for a total estimated fair value of $340,000. Required: Determine the amounts Cold Stone should record in the separate accounts for the land, the building, and the equipment

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