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For what amount would the land be recorded

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Question - Alamo Co. purchased a basket of assets for a total price of $880,000. These assets were appraised by the bank and have a total market value of $1,000,000 (building: $500,000; land: $400,000; and equipment: $100,000). For what amount would the land be recorded in the accounting records?

Reference no: EM133177103

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