Question: I need help with this financial accounting question using standard accounting techniques. Sterling Enterprises made a lump sum purchase of land, buildings, and machinery. The

I need help with this financial accounting question using standard accounting techniques.

Sterling Enterprises made a lump sum purchase of land, buildings, and machinery. The appraised values of each element are: PP&E Element Amount Land $20,000 Building $35,000 Machinery $45,000 Sterling paid $85,000 cash for the lump sum purchase. What value should be allocated to the building

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