Allied Construction purchased a total of five printer$-$and$-$desk sets from Office Supplies for a combined purchase price of $$1,200$ for each set. Office Supplies sells the items on an individual basis as follows: printer, $$600$; desk, $$700.$

Required

Allocate the single lump$-$sum purchase price using the proportional method. Prepare the journal entry for the purchase transaction.

Note: Do not round until your final answer; round your final answer to the nearest whole dollar.