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How traylor should debit the equipment account for

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Question 1: Traylor Company made lump-sum purchased of land, buildings, and equipment for $220,000. The appraised market value for each item is $20,000 land, $70,000 buildings, and $210,000 equipment. Traylor should debit the Equipment account for:

Option A. $70,000

Option B. $210,000

Option C. $154,000

Option D. $220,000

 

Reference no: EM132484688

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