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Give the journal entry to record the acquisition

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Reference no: EM132752610

On December 1 Bargain Inc purchased land, buildings, and equipment for a lump sum cash price of $750,000. The appraised values are as follows:

Appraised Value

Land         40,000
Buildings   400,000
Equipment  360,000

Problem 1: Give the journal entry to record the acquisition.

Reference no: EM132752610

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