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Make journal entries to record the given transactions

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Reference no: EM131798137

Question - Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. The land and buildings have fair values of $45,000 and $455,000.

Required: Prepare journal entries to record the above transactions.

Reference no: EM131798137

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Make journal entries to record the given transactions : Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. Prepare journal entries to record the above transactions
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