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Problem 2Samuel Corporation purchased the following assets from Ha.pdf

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Problem 2 Samuel Corporation purchased the following assets from Harvey Corporation for $1,600,000. An independent appraisal of the fair value of the assets acquired is listed below: Land........................ $171,600 Building 514,800 Equipment.600,600 Inventory...429,000 Required: Prepare the journal entry to record the purchase of the assets..

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Problem 2 Samuel Corporation purchased the following assets from Harvey Corporation for $1,600,000. An independent appraisal of the fair value of the assets acquired is listed below: Land........................ $171,600 Building 514,800 Equipment.600,600 Inventory...429,000 Required: Prepare the journal entry to record the purchase of the assets.

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