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On September 8, 2023, Slash Company purchased the following assets: a building, land, and machinery. The appraised values of the assets were $663,300 for the building, $984,900 for land and $361,800 for machinery. The total purchase price of all three assets was $1,690,000. Slash Company paid $400,000 in cash and signed a note payable for the remaining balance.

Required a) Complete the table to determine the cost of the assets.

Do not enter dollar signs or commas in the input boxes. Round all numbers to 2 decimal places.

Item	Appraised Value	Percent	Applied to Cost
Building	$663,300	Answer%	$Answer
Land	$984,900	Answer%	$Answer
Machinery	$361,800	Answer%	$Answer
Total	$2,010,000		$Answer

b) Prepare the journal entry to record the purchase.

Enter the debit accounts in alphabetical order. Enter the credit accounts in alphabetical order.

Date	Account Title and Explanation	Debit	Credit
Sep 8	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseBuildingCashDepreciation ExpenseEquipmentLandMachineryNotes PayableNotes ReceivableTruck	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseBuildingCashDepreciation ExpenseEquipmentLandMachineryNotes PayableNotes ReceivableTruck	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseBuildingCashDepreciation ExpenseEquipmentLandMachineryNotes PayableNotes ReceivableTruck	Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseBuildingCashDepreciation ExpenseEquipmentLandMachineryNotes PayableNotes ReceivableTruck		Answer
	AnswerAccounts PayableAccounts ReceivableAccumulated DepreciationAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseBuildingCashDepreciation ExpenseEquipmentLandMachineryNotes PayableNotes ReceivableTruck		Answer
	To record the purchase of assets

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