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Question 11 On April 12, Prism Ltd. a camera lens manufacturer, paid cash of $552,375...

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Accounting

Question 11 On April 12, Prism Ltd. a camera lens manufacturer, paid cash of $552,375 for real estate plus $29,400 cash in closing costs. The real estate included land appraised at $249, 480, land improvements appraised at $83,160 and a building appraised at $261,360. Prepare a calculation showing the allocation of the total cost among the three purchased assets and present the journal entry to record the purchase. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 2 3 3 # |||| () 3 EX X 23 R >TT
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purchase

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