Graves Automotive pays $320,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $105,000, the building's current market value is $105,000, and the equipment's current market value is $140,000. Journalize the lump-sum purchase of the three assets for a total cost of $320,000. The business signs a note payable for this amount. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Land Equipment Building Note Payable 320,000