Question: I am looking for help with this general accounting question using proper accounting standards. Hastings Company has purchased a group of assets for $350,000. The

I am looking for help with this general accounting question using proper accounting standards.

Hastings Company has purchased a group of assets for $350,000. The assets and their market values are listed as follows: Land $125,000 Equipment] /5,000 Building | 200,000 Which of the following amounts would be debited to the Land account? a. $125,000. b. $109,375. c. $65,625. d. $175,000

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