Exercise 8-6A (Algo) Allocating costs for a basket purchase LO 8-1

Pitney Company purchased an office building, land, and furniture for $740,000 cash. The appraised value of the assets was as follows:

Land	$ 99,456
Building	256,928
Furniture	472,416
Total	$ 828,800

Required

Compute the amount to be recorded on the books for each asset.

Show the purchase in a horizontal statements model.