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Compute the amount to be recorded on the books

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Question - Keenum Company purchased a restaurant building, land, and equipment for $900,000. Keenum paid cash for the purchase. The appraised value of the assets was as follows:

Land $240,000

Building 600,000

Equipment 360,000

Total $1,200,000

Compute the amount to be recorded on the books for each of the assets.

Reference no: EM132597139

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