n October 17, Nikle Company purchased a building and a plot of land for $836,900. The building was valued at $410,100 while the land carried a value of $426,800. Nikle paid $58,800 dow o cash and signed a notes payable for the balance. repare the journal entry for this transaction. If an amount box does not require an entry, leave it blank.
n October 17, Nikle Company purchased a building and a plot of land for $836,900. The building was valued at $410,100 while the land carried a value of $426,800. Nikle paid $58,800 dow o cash and signed a notes payable for the balance. repare the journal entry for this transaction. If an amount box does not require an entry, leave it blank.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 11RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
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![On October 17, Nikle Company purchased a building and a plot of land for $836,900. The building was valued at $410,100 while the land carried a value of $426,800. Nikle paid $58,800 down
in cash and signed a notes payable for the balance.
Prepare the journal entry for this transaction. If an amount box does not require an entry, leave it blank.
Oct. 17](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0e771853-3bab-4759-bace-ccd9c0e43697%2F7986dea3-3df1-4814-b602-c4e2d981660e%2Fbz67nj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On October 17, Nikle Company purchased a building and a plot of land for $836,900. The building was valued at $410,100 while the land carried a value of $426,800. Nikle paid $58,800 down
in cash and signed a notes payable for the balance.
Prepare the journal entry for this transaction. If an amount box does not require an entry, leave it blank.
Oct. 17
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