Te real estate consists of land appraised at 166320 land

Reference no: EM13394941

Ming Yue Company pays $368,250 for real estate pluse $19,600 in closing cost. The real estate consists of land appraised at $166,320; land improvements appraised at $55,440: and a building appraised at $174,240. Allocate the total cost among the three purchased assets and prepare the journal entry to record the purchase.

Reference no: EM13394941

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