Daniel Moss, owner of Moss Interiors, is negotiating for the purchase of Blossom Galleries. The following...

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Daniel Moss, owner of Moss Interiors, is negotiating for the purchase of Blossom Galleries. The following balance sheet of Blossom is given in an abbreviated form as follows. Blossom Gallaries Balance Sheet As of December 31, 2025 Assets Liabilities and Stockholders' Equity Cash $111,000 Accounts payable $50,800 Land 70,600 Notes payable (long-term) 301,200 Buildings (net) 200,600 Total liabilities 352,000 Equipment (net) 175,600 Common stock $206,600 Copyrights (net) 30,600 Retained earnings 29,800 236,400 Total assets $588,400 Total liabilities and stockholders' equity $588,400 Moss and Blossom agree that: 1. Land is undervalued by $31,000. 2. Equipment is overvalued by $6,000. Blossom agrees to sell the gallery to Moss for $315,000. Prepare the entry to record the purchase of Blossom Galleries on Moss's books. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Goodwill Cash Land Buildings Equipment Copyrights Accounts Payable Notes Payable Cash eTextbook and Media List of Accounts 88600 111000 100600 200600 170600 30600 50800 301200 350000 Attempts: unlimited Repeat with New Values Daniel Moss, owner of Moss Interiors, is negotiating for the purchase of Blossom Galleries. The following balance sheet of Blossom is given in an abbreviated form as follows. Blossom Gallaries Balance Sheet As of December 31, 2025 Assets Liabilities and Stockholders' Equity Cash $111,000 Accounts payable $50,800 Land 70,600 Notes payable (long-term) 301,200 Buildings (net) 200,600 Total liabilities 352,000 Equipment (net) 175,600 Common stock $206,600 Copyrights (net) 30,600 Retained earnings 29,800 236,400 Total assets $588,400 Total liabilities and stockholders' equity $588,400 Moss and Blossom agree that: 1. Land is undervalued by $31,000. 2. Equipment is overvalued by $6,000. Blossom agrees to sell the gallery to Moss for $315,000. Prepare the entry to record the purchase of Blossom Galleries on Moss's books. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Goodwill Cash Land Buildings Equipment Copyrights Accounts Payable Notes Payable Cash eTextbook and Media List of Accounts 88600 111000 100600 200600 170600 30600 50800 301200 350000 Attempts: unlimited Repeat with New Values