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On January 1, 2020, Sunland Company makes the two following acquisitions. 1. Purchases land having a fair value of $360,000 b2. January 1, 2020 (b) 1. December 31, 2020 2. December 31, 2020

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Date Account Title and Explanation Debit credit pv @ 11% Year1 0.90090 Year2 a) 1 january 1 2020 Land 360,000 0.81162 Discoun

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