Fred Moss, owner of Sarasota Interiors Inc., is negotiating for the purchase of Bridgeport Galleries Ltd. The condensed statement of financial position of Bridgeport follows in an abbreviated form:

BRIDGEPORT GALLERIES LTD. Statement of Financial Position As at December 31, 2020
Assets				Liabilities and Shareholders Equity
Cash		$115,000		Accounts payable				$ 91,700
Land		69,300		Long-term notes payable				351,000
Building (net)		245,000		Total liabilities				442,700
Equipment (net)		184,900		Common shares		$199,000
Copyright (net)		98,700		Retained earnings		71,200		270,200
Total assets		$712,900		Total liabilities and shareholders equity				$712,900

Sarasota and Bridgeport agree that the land is undervalued by $40,800 and the business equipment is overvalued by $12,600. Bridgeport agrees to sell the business to Sarasota for $383,400. Prepare the entry to record the purchase of the businesss net assets on Sarasotas books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)