Exercise 8-6A Allocating costs for a basket purchase LO 8-1 Pitney Co. purchased an office building, land, and furniture for $621,600 cash. The appraised value of the assets was as follows: Land Building Furniture Total $ 111,391 174,048 410,753 $696,192 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 Building Furniture Total $ 0 Exercise 8-6A Allocating costs for a basket purchase LO 8-1 Pitney Co. purchased an office building, land, and furniture for $621,600 cash. The appraised value of the assets was as follows: Land Building Furniture Total $ 111,391 174,048 410,753 $ 696,192 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 Prepare the general journal entry to record the purchase. (Do not round intermediate calculations. Round your final answers to nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the account field.) View transaction list Journal entry worksheet Record purchase of land, building and furniture for cash. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal