Edward Moss, owner of Moss Interiors, is negotiating for the purchase of Sunland Galleries. The balance sheet of Sunland is given in an abbreviated form below. Sunland Gallaries Balance Sheet As of December 31, 2020 Assets Liabilities and Stockholders' Equity Cash $118,000 Accounts payable $51,000 Land 71,300 Notes payable (long-term) 303,300 Buildings (net) 201,300 Total liabilities 354,300 Equipment (net) 176,300 Common stock $210,900 Copyrights (net) 31,300 Retained earnings 33,000 243,900 Total assets $598,200 Total liabilities and stockholders' equity $598,200 Moss and Sunland agree that: 1. Land is undervalued by $30,000. 2. Equipment is overvalued by $5,000. Sunland agrees to sell the gallery to Moss for $350,000. Prepare the entry to record the purchase of Sunland Galleries on Moss's books. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit