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Score: 0 of 1 pt P9-34A (similar to) Central States Telecom pro ides communication ser...

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Accounting

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Score: 0 of 1 pt P9-34A (similar to) Central States Telecom pro ides communication ser ces i, Iowa, Nebraska, the Dakotas, and Montana Central States Telecom purchased goodwil as part of the acquisition o Samson Wreless Enterprises, which had th?folown 4 2 of3 (0 complete) HW Score: 0%, 0 of 6 pts EQuestion Help igures (Cick the icon to view the data) Read the tearement Requirement 1. Joumalize the entry to record Central State Telecom's purchase of Samson Wireless for $400,000 cash plus a $600,000 note payable. (Record debits first, then credts Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Data Table Requirements Book value of assetsT00,000 Market value of assets Market value of labilities 1,300,000 540,000 1. Jounalize the entry to recond Central State Telecoms purchase of Samson Wireless for $400,000 cash plus a $600,000 note payable 2. What special asset does Central State Telecoms acquisition of Samson Wireless idensty? How should Central States Tellecom account for this asse ater acquiting Samson Wireless? Explain in detail Print Done Choose from any ist or enter any number in the input ftelds and then clck Check Print Done

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