1. Land and a warehouse were acquired for $810,000. What amounts should be recorded in the accounting records for the land and for the warehouse if an appraisal showed the estimated values to be $500,000 for the land and $800,000 for the warehouse? (Round intermediate percentage calculations to 1 decimal place.)

$311,850 for land; $498,150 for warehouse.

$500,000 for land; $810,000 for warehouse.

$10,000 for land; $800,000 for warehouse.

$500,000 for land; $800,000 for warehouse.