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What be journal entry to record acquisition for hello co

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On October 1, 2020, Hello Company purchased equipment and furniture at a total cost of P 100,000. The relative sales values of these two properties at acquisition date are P 75,000 and P 50,000, respectively. Inward related costs paid by entity was P 20,000. Term of purchase is 3/10, n/90.

Question 1: What would be the journal entry to record the acquisition?

Reference no: EM132816689

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