Daily Assignment (1/27/2020) Tow can either a wer the problems directly on this document or use other paper Scan and submit on Canvas by 8 AM on Wednesday, January 27 Problem 1 (Asset Acquisition) yes Industries purchased the following assets and constructed a building as well. All this was done during the current year. Instructions Record the acquisition of each of these assets. Assets 1 and 2: These assets were purchased as a lump sum for $100.000 cash. The following information was gathered. Description initial Cost on Depreciation to Date on Book Value on Appraised Seller's Books Seller's Books Seller's Books Value Machinery $100,000 $50,000 $50,000 $90,000 Equipment 60,000 10,000 30,000 50,000 Isset 3: This machine was acquired by making a $10,000 down payment and issuing a $30,000, 2-year, zero terest-bearing note. The note is to be paid off in two $15,000 installments made at the end of the first and cond years. It was estimated that the asset could have been purchased outright for $35,900