Acquired land and building at a cost of $3,000 and $21,000. A $4,000 down payment was made and an 8% mortgage was signed for the balance. The building has a 20 year life.
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Acquired land and building at a cost of $3,000 and $21,000. A $4,000 down payment was made and an 8% mortgage was signed for the balance. The building has a 20 year life.
Your accounts will be Cash, Land, and Mortgage Payable.
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