Lake Co. purchases a two buildings (Building 1 and Building 2) and land in a group purchase from Ocean, Inc. Lake spends $15,000,000 in total. The fair market value of Building 1 is $6,000,000. The fair market value of Building 2 is $11,000,000 and the fair market value of the land is $3,000,000. The book value of the assets on Ocean Inc.s books are the following: Building 1: $4,000,000; Building 2: $4,000,000; Land: $2,000,000.

What journal entry will Lake Co. record upon acquisition of Building 1, Building 2 and the land?

options:

	Dr. Building 1 $4,500,000 Dr. Building 2 $8,250,000 Dr. Land $2,250,000 Cr. Cash $15,000,000
	Dr. Building 1 $4,500,000 Dr. Building 2 $8,250,000 Dr. Land $2,250,000 Cr. Cash $20,000,000
	Dr. Building 1 $6,000,000 Dr. Building 2 $11,000,000 Dr. Land $3,000,000 Cr. Cash $20,000,000
	Dr. Building 1 $6,000,000 Dr. Building 2 $11,000,000 Dr. Land $3,000,000 Cr. Cash $15,000,000