On July 1, 2025, Sarasota Corporation purchased Young Company by paying $256,100 cash and issuing a $124,000 note payable to Steve Young. At July 1,2025 , the balance sheet of Young Company was as follows. \begin{tabular}{lrlr} Cash & $51,200 & Accounts payable & $207,000 \\ Accounts receivable & 91,800 & Stockholders' equity & 244,900 \\ \cline { 4 - 5 } Inventory & 110,000 & & $451,900 \end{tabular} Land 40,200 Buildings (net) 76,200 Equipment (net) 70,700 Trademarks 11,800 $451,900 The recorded amounts all approximate current values except for land (fair value of $63,700 ), inventory (fair value of $125,600 ), and trademarks (fair value of $15,440 ). Prepare the July 1 entry for Sarasota 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. List all debit entries before credit entries.)