Mark Moss, owner of Moss Interiors, is negotiating for the purchase of Cullumber Galleries. The balance sheet of Cullumber is given in an abbreviated form below. Cullumber Gallaries Balance Sheet As of December 31, 2020 Assets Liabilities and Stockholders' Equity Cash $113,000 Accounts payable $51,100 Land 70,800 Notes payable (long-term) 303,000 Buildings (net) 200,800 Total liabilities 354,100 Equipment (net) 175,800 Common stock $210,000 Copyrights (net) 30,800 Retained earnings 27,100 237,100 Total assets $591,200 Total liabilities and stockholders' equity $591,200 Moss and Cullumber agree that: 1. Land is undervalued by $30,000. 2. Equipment is overvalued by $5,000. Cullumber agrees to sell the gallery to Moss for $350,000. Prepare the entry to record the purchase of Cullumber Galleries on Moss's books. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit