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step 1-3 Pitney Company purchased an office buliling,...

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Accounting

step 1-3
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Pitney Company purchased an office buliling, land, and furniture for $623,500cash. The appraised value of the assets was as Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. c. Prepare the general journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Compute the amount to be recorded on the books for each asset. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Journal entry worksheet Record purchase of land, building and furniture for cash. Note: Enter debits before credits. Record the purchase in a horizontal statements model, (In the Statement of Cash Flows column, use the initials OA to designate operating activit, to indicate that an element is not affected ty the event. Enter any decreases to account balances and cash outfows with a minus sign. Do not rou nearest whole dollar) Compute the amount to be recorded on the books for each asset. (Do not round intermediate calculatior answers to nearest whole dollar.)

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