Land and a warehouse were acquired for $890,000. What amounts should be recorded in the accounting records for the land and for the warehouse if an appraisal showed the estimated values to be $580,000 for the land and $880,000 for the warehouse? (Round intermediate percentage calculations to 1 decimal place.)

A. $580,000 for land; $890,000 for warehouse.

B. $353,330 for land; $536,670 for warehouse.

C. $580,000 for land; $880,000 for warehouse.

D. $10,000 for land; $880,000 for warehouse.