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Linden Corporations is negotiating for the purchase of Sandhill Company. The following is an abbreviated...

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Accounting

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Linden Corporations is negotiating for the purchase of Sandhill Company. The following is an abbreviated balance sheet of Sandhill. Additional Information: Additional Information: 1. Land is undervalued by $17,000. 2. Equipment is overvalued by $2,500. Sandhill agrees to sell the business to Linden for $361,500. Prepare the entry to record the purchase of Sandhill Company on Linden's books. (Credit account titles are autol the amount is entered. Do not indent ninually. If no entry is required, select "No Entry" for the account titles and entel debit entries before credit entries.)

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