Exercise 8-6A Allocating costs for a basket purchase LO 8-1 Pitney Co. purchased an office building, land, and furniture for $604,200 cash. The appraised value of the assets was as follows: Land Building Furniture Total $101.506 196,244 378,954 $676, 704 Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model like the following one: c. Prepare the general journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount to be recorded on the books for each asset. (Do not round intermediate calculations. Round your final answers to nearest whole dollar) Allocated Cost Land Bulding Fumture Total Saved Land Building Furniture Total 5101,506 196.244 378,954 $676,704 Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model like the following one: c. Prepare the general journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required A Required B Required Show the purchase in a horizontal statements model like the following one: (Do not round intermediate calculations. Round your final answers to column, use the initials OA to designate operating activity. IA for nvesting activity. FA for financing activity, NC for not change in cash and NA for account balances with a minus sign.) PITNEY CO Statements Model - Equity Furn. - - Building - Revenue - Expenses Net Income Cash Flows Recured A