Advanced Automotive pays $280,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $186,000. the building's current market value is $93,000, and the equipment's current market value is $31,000. Prepare a schedule allocating the purchase price of $280,000 to each of the individual assets purchased based on their relative market values, then joumalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price Prepare a schedule allocating the purchase price of $280,000 to each of the individual assets purchased based on their relativo market values, then Journalize the Jump-sum purchase of the three assets. The business signs a note payable for the purchase price Begin by proporing a schedule allocating the purchase price of $200,000. (Do not enter the sign within the input fields of the Percentage of Total Market column) Market (Sales) Percentage It Total Cost of Each Market Value Asset Value Asset Land % % Building Equipment % 100 % Total Now journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry % Building Equipment % 100 % Total Now joumalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. (Record debits first, then credits. Exclude explanations from any Journal ontries.) Journal Entry Accounts Date Debit Credit Time Remaining: 00:10:43 Next