Assets Liabilities and Stockholders' Equity Cash $101,000 Accounts payable $49,700 Land 69,600 Notes payable (long-term) 302,800 Buildings (net) 199,600 Total liabilities 352,500 Equipment (net) 174,600 Common stock $199,000 Copyrights (net) 29,600 Retained earnings 22,900 221,900 Total assets $574,400 Total liabilities and stockholders' equity $574.400 Moss and Crane agree that: 1. Land is undervalued by $27,000. 2. Equipment is overvalued by $5,000. Crane agrees to sell the gallery to Moss for $325,000 Prenare the entry to record the nurchsch 2 Equipment is overvalued by $5,000. Crane agrees to sell the gallery to Moss for $325,000 Prepare the entry to record the purchase of Crane 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. Ust all debit entries before credit entries) Account Titles and Explanation Debit Credit