Multiple Choice
Cycle Company Ltd. made a lump-sum purchase of land, buildings, and equipment for $630,000. The appraised market values for the items are respectively, $210,000, $322,000, and $168,000. Cycle Company Ltd. should debit the equipment account for:
A) $289,800.
B) $189,000.
C) $151,200.
D) $168,000.
Correct Answer:
Verified
Correct Answer:
Verified
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