76 Malfoy Company purchased the following assets at an auction for $1,320,000. An independent appraisal of the fair value of the assets acquired is listed below: Land Building Equipment Inventories $217,500 290,000 580,000 362,500 ints 8 01.3140 Prepare the journal entry to record the purchase of the assets. eBook View transaction list Journal entry worksheet 1 > Record the entry for purchase of the assets Note: Enter det before credits Transaction 1 General Journal Debit Credit