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. Cash $51,200 Accounts payable $207,000 Accounts receivable 91,800 Stockholders equity 244,900 Inventory 110,000 $451,900 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). (a) Prepare the July 1 entry for Sarasota Corporation to record the purchase. (Credit account titles are automatically indented when amount is enter