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David Moss, owner of Moss Interiors, is negotiating for the purchase of Pharoah Galleries. The balance sheet of Pharoah is given in an abbreviated form

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David Moss, owner of Moss Interiors, is negotiating for the purchase of Pharoah Galleries. The balance sheet of Pharoah is given in an abbreviated form below. Moss and Pharoah agree that: 1. Land is undervalued by $30,000. 2. Equipment is overvalued by $5,000. Pharoah agrees to sell the gallery to Moss for $350,000, Prepare the entry to record the purchase of Pharoah Galleries on Moss's books. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter of for the amounts) Account Tities and Explanation Debit Credit

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