On July 1, 2017, Bramble Corporation purchased Cullumber Company by paying $215,000 cash and issuing a $161,250 note payable to Jay Cullumber. At July 1,2017 , the balance sheet of Cullumber Company was as follows. The recorded amounts all approximate current values except for land (fair value of $60,100 ), inventory (fair value of $128,900 ), and trademarks (fair value of $23,330). Your answer is partially correct. Prepare the July 1 entry for Bramble Corporation to record the purchase. (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 O for the amounts.)