Question - Alpha Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element:
PP&E Element Amount
Land $10,000
Building 20,000
Equipment 30,000
Alpha signed a 3 years, 5%, note in the amount of $72,000 for the lump sum purchase. What value should be allocated to the following? (Enter only whole dollar values.)
1. Land
2. Building
3. Equipment