Cheng Company has recently decided to accept a proposal from the City of Bel Aire that publicly
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Question:
Cheng Company has recently decided to accept a proposal from the City of Bel Aire that publicly owned property with a large warehouse located on it will be donated to Cheng if Cheng will build a branch plant in Bel Aire. The appraised value of the property is $383,000 and of the warehouse is $754,000.
Prepare the entry by Cheng for the receipt of the properties. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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