On September 8, 2018, ACME Company purchased the following assets: a building, land, and machinery. The appraised values of the assets were $1,033,200 for land, $604,800 for machinery, and $882,000 for the building. The total purchase price of all three assets was $2,150,000. The company paid cash of $340,000 and signed a note payable for the remaining balance.

Required a) Complete the table to determine the cost of the assets.

Do not enter dollar signs or commas in the input boxes. Round all numbers to 2 decimal places.

Item	Assessment	Percent	Applied to Cost
Building	$882,000	%	$
Land	$1,033,200	%	$
Machinery	$604,800	%	$
Total	$2,520,000		$

b) Prepare the journal entry to record the purchase.

Enter the debit accounts in alphabetical order. Enter the credit accounts in alphabetical order.

Date	Account Title and Explanation	Debit	Credit
Sep 8	__________________	Answer
	__________________	Answer
	__________________	Answer
	__________________		Answer
	__________________		Answer
	Record the purchase of assets