**Is this a correct journal entry??

The company purchased office facilities for $300,000, of which $60,000 was applicable to the land and $240,000 to the building. A cash payment of $100,000 was made and a note payable was issued for the balance of the purchase price.

April 6 Journal

6-Apr		Building			$ 240,000.00
		Land			$ 60,000.00
			Cash			$ 100,000.00
			Note payable			$ 200,000.00