Balance Sheet As of December 31, 2020 Liabilities and Stockholders' Equity Cash $111.000 Accounts payable $50,000 Land 70.600 Notes payable (long-term) 301,200 Buildings (net) 200,600 Total liabilities 352.000 Equipment (not) 175,600 Common stock Retained carings Copyrights (net) Total assets 30.600 $588,400 $206,600 29.800 236,400 $588,400 Total liabilities and stockholders'equity Moss and Blossom agree that 1. Land is undervalued by $30,000. 2. Equipment is overvalued by $5,000. Blossom agrecs to sell the gallery to Moss for $350,000. Prepare the entry to record the purchase of Blossom Galleries on Moss's books. (Credit account ticles 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 for the amounts.) Account Titles and Explanation Debit Credit