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TB Problem 9253 (Algo) Greer Manufacturing purchases property that... Greer Manufacturing purchases property that includes...

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TB Problem 9253 (Algo) Greer Manufacturing purchases property that... Greer Manufacturing purchases property that includes land, buildings and equipment for $5,000,000. In addition, the company pays $189,000 in legal fees, $212,000 in commissions, and $118,000 in appraisal fees. The land is estimated at 30%, the builidings are at 41%, and the equipment at 29% of the property value. Required: a. Determine the total acquisition cost of this "basket purchase:. b. Allocate the total acquisition cost to the individual assets acquired. c. Prepare the joumal entry to record the purchase assuming that the company paid 55% of the amounts using cash and signed a note (due in five years) for the remaindet. Complete this question by entering your answers in the tabs below. Determine the total acquisnion cort of this "basket purchase

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