On $10/15/2022,$ Punctual Transporters, which operates a calendar year, was offered a package of assets from LMK Travelers that was in liquidation. The items acquired were:

Item Cost in Seller's Books Expert Valuation

Land $$310,000$ $$325,000$

Building $650,000830,000$

Equipment $215,000185,000$

On $10/20/2022,$ the purchase of the package was agreed for $$1,500,000$ cash. Punctual Transporters sought expert valuation of the above assets and received the above estimates on $10/22/2022.$ The price of the acquired assets was paid and recorded on $10/25/2022.$

Required: a$).$ Record the costs of the acquired assets in the books of Punctual Transportation.