Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $$2,375,000.$ Harding paid $$700,000$ and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $$740,000$; Building, $$2,200,000$ and Equipment, $$1,460,000.$

What journal entry would be used to record the purchase of the above assets?