QS $8-3($Algo$)$ Lump$-$sum purchase of assets LO C$1$

Skipped Diego Company paid $$194,000$ cash to acquire a group of items consisting of land appraised at $$57,000$ and a building appraised at $$171,000.$ Allocate total cost to these two assets and prepare an entry to record the purchase.

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Total Cost

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Journal

Allocate total cost to these two assets.

$\backslash$table$[[,$Percent of Total,Apportioned Cost$],[$Land$,,],[$Building$,,],[$Totals$,0\%,$$