O'Brien Inc. provides engineering consulting services to a wide variety of clients. Based on its business model, the company needs to continually refresh the equipment it uses to keep up with technology changes. On July 1st, 2023, the company was able to get a great deal on two pieces of equipment and supplies from a smaller engineering firm that is going out of business. The following are the details of the deal: Equipment A Equipment B Supplies Fair Value $66,000 $49,200 $3,600 Ivanova Consulting paid $93,500 cash for all three items, plus the seller was able to transfer the remaining insurance coverage on both pieces of equipment (good for the next 7 months) as it was already paid for, and the provider would not issue a refund to the seller. This is valued at $1,200. Instructions Using the relative fair value approach (round to the nearest whole number). record the journal entry to account for this purchase transaction. (10 marks)