Belle Inc. (BI) purchased a group of assets together from one of its competitors whose owner had recently decided to retire and stop operations. Bi paid $570,000 for land, building, equipment, and a patent. Independent appraisals had been completed on all assets prior to the sale. These appraisals indicated the following fair values for the assets: land $387,500; building $201,500; equipment $85,250, and patent $100,750. Required: Prepare the journal entry to record the purchase. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your percentages to 1 decimal places.) View transaction list Journal entry worksheet < 1 Record the purchase of assets. Journal entry worksheet < 1 Record the purchase of assets. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Record entry Clear entry