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Prepare journal entry to record acquisition of four assets

On December 31, 20x1, the Juniper Company purchase a group of four assets for a total cost of $850,000. An independent appraiser assesses the fair value of each asset as

follows:

Asset Fair Value

Land $100,000

Building 600,000

Equipment 250,000

Fixtures 150,000

Prepare the journal entry to record the acquisition of the four assets.

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