Current Attempt in Progress Donald Moss, owner of Moss Interiors, is negotiating for the purchase of Ivanhoe Galleries. The following balance sheet of Ivanhoe is given in an abbreviated form as follows. Ivanhoe Gallaries Balance Sheet As of December 31, 2025 Assets Liabilities and Stockholders' Equity Cash $114.000 Accounts payable $50,100 Land 70.900 Notes payable (long-term) 309.600 Buildings (net) 201.400 Total liabilities 359.700 Equipment (net) 175.900 Common stock $211000 Copyrights (net) 30,900 Retained earnings 22.400 233.400 Total assets $593.100 Total liabilities and stockholders' equity $593.100 Moss and Ivanhoe agree that 1 Land is undervalued by $30.000 2 Equipment is overvalued by $6,000 Type here to search Question 5 of 10 Moss and Ivanhoe agree that B Land is undervalued by $30,000 -13.5 1 2 Equipment is overvalued by $5.000 vanhoe agrees to sell the gallery to Moss for $372,000 Prepare the entry to record the purchase of Ivanhoe Galleries on Moss's books ount is entered. Do not indent manually if no entry is requintarint "No Every debit entries before credit entries) Account Titles and Explanation Debit de account sieles are automatically indientest when the account titles and enter for the mounts List all Credit 00 9AM 2/ 13 Question 5 of 10 -135 1 amount is entered. Do not indent manually if no entry is required select "No Entry" for the account titles and entar Ofor the amounts List a debit entries before credit entries Account Titles and Explanation Debit Craft Type bere to search Textbook and Media List of Accounts MAM 100