Linden Corporations is negotiating for the purchase of Ivanhoe Company. The following is an abbreviated balance sheet of Ivanhoe. Ivanhoe Company Balance Sheet As of December 31, 2025 Liabilities and Stockholders' Equity Assets Cash $101,500 Accounts payable $151,000 Land 243,500 Notes payable (long-term) 236,000 Equipment, net 199,000 Common stock 170,500 Trademark 42,000 Retained earnings 28.500 Total assets $586,000 Total liabilities and stockholders' equity $586,000 Additional Information: 1. Land is undervalued by $16,500. 2. Equipment is overvalued by $3,500. Ivanhoe agrees to sell the business to Linden for $340,500. Prepare the entry to record the purchase of Ivanhoe Company on Linden's books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.)