#2 Goodwill Graf Interiors purchased the net assets of Terrell Galleries for $380,000 cash on December 31, 2014. At that time, Terrell?s accounting records indicated the following values;4 Graf and Terrell agree that the fair value of the land is $100,000, building is $250,000, equipment is $130,000, and the copyright is $60,000. Record the purchase at December 31, 2014 on Graf?s books in the space below. Hint: Graf keeps the cash, and is also assuming the payables of Terrell as well