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. 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 outomatically indented when amount is entered. Do not indent mancially if no entry is repuined select "No Entry" for the occount titles and enter O for the amounts list all debit entries before credit entries) 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. 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 outomatically indented when amount is entered. Do not indent mancially if no entry is repuined select "No Entry" for the occount titles and enter O for the amounts list all debit entries before credit entries)