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Camas Sound Center pays $300,000 for a group purchase of land, bulding, and equipment. At the time of acquisition, the land has a current market

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Camas Sound Center pays $300,000 for a group purchase of land, bulding, and equipment. At the time of acquisition, the land has a current market value of $66,000, the building's current market value is $165.000, and the equipmen's cuerent market value is $99,000. Prepare a schedule allocaling the purchase price of $300,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price. Prepare a cchedule allocating the purchase price of $300,000 to each of the individal assets purchased based on their relative market salues, then journalize the lump-oum purchase of the three assets. The business signs a note payable for the purchase price. Begin by preparing a schedule allocating the purchase price of 3300,000 . (Do not enter the % sign within the input fields of the Percentagen of Total Market column.)

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