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Freeman Company purchased a tract of land on which were located a warehouse and an office building. The cash purchase price was $364,000 plus $26,000

Freeman Company purchased a tract of land on which were located a warehouse and an office building. The cash purchase price was $364,000 plus $26,000 in fees connected with the purchase. The following information relates to the property.

Tax Assessment Sellers Book Value Original Cost
Land $52,000 $26,000 $26,000
Warehouse 104,000 52,000 156,000
Building 156,000 130,000 208,000

Prepare the journal entry to record this purchase.

Account Name Dr. Cr.
Land Answer Answer
Warehouse Answer Answer
Building Answer Answer
Cash Answer Answer

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