1. Bargain Banners pay $220,000 cash for a group purchase of land, building, and equipment. At the time of acquisition, the land has a market value of $24,000, the building $120,000, and the equipment 536.000 Jounalo the lump sum purchase TED First refer to the information provided and calculate the ratio of each assets market value to the total for all assets combined Then complete the table and calculate the assigned cost for each asset Total Assigned Percentage Purchase Cost of Each Asset Market Value of Total Value Price Asset tand 584.000 5220.0001111 Building $120000 5220000 Equipment $36.000 $220.000 Total 240.000 $220.000 Now journalize the lumpsum purchase (Record a single compound journal entry Record debitsfest the credits Select the explanation on the last line of the jumal by table> Date Accounts and Explanation Det Credit Land Building Equipment record purchase of the wo