Business, 24.04.2020 18:05 FailingstudentXD
Rodriguez Company pays $355,000 for real estate plus $18,815 in closing costs. The real estate consists of land appraised at $198,000; land improvements appraised at $88,000; and a building appraised at $154,000.Required:1. Allocate the total cost among the three purchased assets.2. Prepare the journal entry to record the purchase.
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Rodriguez Company pays $355,000 for real estate plus $18,815 in closing costs. The real estate consi...
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