Current Attempt in Progress Plant acquisitions for selected companies are as follows. a. Moliere Se purchased a company car by making a 4,500 cash down payment and signing a 1-year, 20,000, 10% note payable. The purchase was recorded as follows 26,500 4,500 Automobiles Cash Notes Payable Interest Payable 20,000 2.000 b. As an inducement to locate its new branch office in the city of Greenwood Acres, Handy Co, received land and a building from the city at no cost. The appraised value of the land was $50,000. The appraised value of the building was $175,000. Since it paid nothing for the land and building. Handy Co.made no journal entry to record the transaction Sonora SpA purchased warehouse shelving for 100,000, terms 1/10./30. At the purchase date, Sonora intended to take the discount. Therefore, it made no entry until it paid for the acquisition. The entry was Warehouse fixtures 100,000 Cash 99,000 Purchase Discounts 1,000 d. Diamond Company built a piece of equipment for its factory. The cost of constructing the equipment was $160,000. Diamond could have purchased the equipment for $190,000. The controller made the following entry. 190.000 Equipment Cash. Materials, etc Proht on Construction 160,000 30,000 e. Tejada ltd. acquired land, buildings, and equipment from Sale plc for a lump-sum price of 1,000,000. The book values of the assets on Sale's books at the date of purchase, as well as fair values for the assets, based on an appraisal performed shortly before the purchase, were as follows. Asset Book Value 250,000 Fair Value 351.000 Land Buildings 450.000 650,000 Equipment 500.000 299,000 Total 1,200,000 1,300,000 The company decided to take the lower of the two values for each asset acquired. The following entry was made land 250,000 Buildings 450,000 Equipment 300,000 Cash 1,000,000 Prepare the entry that should have been made at the date of each acquisition. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit No. Account Titles and Explanation a. 'P