17. Tharp Energy purchased land in fee for $100,000. The fair market values of the surface and mineral rights were determined by a qualified appraiser as follows: Surface rights $ 80,000 Mineral rights 40,000 $120,000 REQUIRED: Prepare a journal entry to record the purchase. 25. Bruce Corporation purchased land in fee, paying $610,000. The land was located in a remote area in Wyoming. An appraiser estimated the fair market value of the surface rights to be $400,000. The appraiser was not able to make an estimate of the value of the mineral rights. REQUIRED: Prepare a journal entry to record the purchase