Barbarino Corporation purchased land and a building for $1,000,000.An appraisal indicates that the land's market value is $600,000 and the building's market value is $900,000.When recording this transaction Barbarino should debit: (Do not round any intermediary calculations,and round your final answer to the nearest dollar. )

Question

Quizplus · Accepted Answer

$600,000 ÷ ($600,000 + $900,000)= 40%
40% × $1,000,000 = $400,000

Barbarino Corporation Purchased Land and a Building for $1,000,000