2 Fred Moss, owner of Moss Interiors is negotiation for the purchase of Zweifel Galleries. The following balance sheet of Zweifel is gien in an abbreviated form ZWEIFEL GALLERIES Balance Sheet As of December 31, 2017 Assets: Cash Land Buildings (net) Equipment (net) Copyrights (net) Total Assets 100,000 -70,000 200,000 Liabilities & Stockholders Equity Accounts Payable Notes Payable (L/T) Total Liabilities Common Stock Retained Earnings Total Liabilities & Stockholders Equity 50,000 300,000 350,000 175,000 30,000 575,000 200,000 25,000 225,000 575,000 Moss and Zweifel agree that: 1. Land is undervalued by $30,000 (poo Zweifel sells to miss for 2. Equipment is overvalued by $5,000 350,000 Credit Instructions 270,000 Prepare the entry to record the purchase of Zweifel Galleries on Moss's Books