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Ottina purchased land with a current market value of $85,000, a building with a market...

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Accounting

Ottina purchased land with a current market value of $85,000, a building with a market value of $59,500, and equipment with a market value of $25,500. Journalize the lump-sum purchase of the three assets purchased for a total cost of $160,000 in exchange for a note payable.

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