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Fred Moss, owner of Moss Interiors, is negotiating for the purchase of Sandhill Galleries. The balance sheet of Sandhill is given in an abbreviated form below SANDHILL GALLERIES BALANCE SHEET AS OF DECEMBER 31, 2017 Liabilities and Stockholders' Equity Accounts payable Notes payable (long-term) AssetS Cash Land Buildings (net) Equipment (net) Copyrights (net) Total assets $120,000 71,500 201,500 176,500 31,500 $601,000 $51,100 302,800 353,900 Total liabilities $225,900 21,200 247,100 Retai ined earnings 601,000 Total liabilities and stockholders' equity Moss and Sandhill agree that: 1. Land is undervalued by $48,100 2. Equipment is overvalued by $5,400. Sandhill agrees to sell the gallery to Moss for $379,800 Prepare the entry to record the purchase of Sandhill Galleries on Moss's books. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit