Rural Tech Support paid 150 000 for a group purchase of land building and equipment At the time of the acquisition the land had

Question

Rural Tech Support paid 150 000 for a group purchase of land building and equipment At the time of the acquisition the land had a market value of 80 000 the building 48 000 and the equipment 32 000 Journalize the lump sum purchase of the three assets for a total cost of 150 000 the amount for which the business signed a note payable Record a single compound journa entry Record debits first then credits Select the explanation on the last line of the journal entry table Date Accounts and Explanation SCOOIS Debit Credit

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