Business

20 June, 16:55

On October 17, Nikle Company purchased a building and a plot of land for $750,000. The building was valued at $435,000 while the land carried a value of $315,000. Nikle paid $53,500 down in cash and signed a notes payable for the balance. Prepare the journal entry for this transaction. If an amount box does not require an entry, leave it blank.

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