On January 1, 2023, Bona Vista Co purchased land, a building, equipment, and tools for a total price of $5,220,000, paying cash of $1,284,000 and borrowing the balance from the bank. The bank appraiser valued the assets as follows $1,165,800 for the land, $1,286,400 for the building; $924,600 for the equipment, and $643,200 for the tools. Prepare the entry to record the purchase. (Do not round intermediate calculations.) View transaction list Journal entry worksheet < Record the lump-sum purchase. Note: Enter debits before credits Date General Journal Debit Credit

On January 1, 2023, Bona Vista Co purchased land, a building, equipment, and tools for a total price of $5,220,000, paying cash of $1,284,000 and borrowing the balance from the bank. The bank appraiser valued the assets as follows $1,165,800 for the land, $1,286,400 for the building; $924,600 for the equipment, and $643,200 for the tools. Prepare the entry to record the purchase. (Do not round intermediate calculations.) View transaction list Journal entry worksheet < Record the lump-sum purchase. Note: Enter debits before credits Date General Journal Debit Credit

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 43P

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