Abner and Baker paid $160,000 for a group purchase of land, building, and equipment. At the time of the acquisition, the land had a market value of $85,000, the building $68,000, and the equipment $17,000. Journalize the lump-sum purchase of the three assets for a total cost of $160,000, the amount for which the business signed a note payable. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.)