Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $$811,000$ cash. The land was appraised at $$223,836$ and the building at $$708,814.$

Required

a$.$ Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building.

b$.$ Would the company recognize a gain on the purchase?

c$.$ Record the purchase in a horizontal statements model.

d$.$ Record the purchase in general journal format.