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Question 3 Saved Smith Corporation purchased land and a building on Oct. 30th, 2020 for $640,000....

Question 3 Saved Smith Corporation purchased land and a building on Oct. 30th, 2020 for $640,000. The fair value of the land is $170,000 while the fair value of the building is $510,000. For the journal entry to record this purchase what amount should the building be debited? Question 3 options: a) $480,000 b) $510,000 c) $160,000 d) $470,000

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