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What is falcons journal entry to record the acquisition

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Question - On Mar 12, Falcon Corp. paid $760,000 cash to buy the property, plant and equipment of Eagle Co. that went out of business. An independent appraiser assigned the following values to the assets acquired:

Land $450,000

Building 225,000

Truck 45,000

Equipment 180,000

Total $900,000

Required - What is Falcon's journal entry to record the acquisition of these assets.

Reference no: EM132532236

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