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

ZWEIFEL GALLERIES BALANCE SHEET AS OF DECEMBER 31, 2014
Assets				Liabilities and Stockholders Equity
Cash		$116,610		Accounts payable				$50,560
Land		71,160		Notes payable (long-term)				304,270
Buildings (net)		200,700		Total liabilities				354,830
Equipment (net)		178,080		Common stock		$234,000
Copyrights (net)		30,240		Retained earnings		7,960		241,960
Total assets		$596,790		Total liabilities and stockholders equity				$596,790

Moss and Zweifel agree that:

1.		Land is undervalued by $51,010.
2.		Equipment is overvalued by $5,060.

Zweifel agrees to sell the gallery to Moss for $380,780. Prepare the entry to record the purchase of Zweifel Galleries on Mosss books.