Oriole Inc. purchased land, a building, and land improvements from Kingswood Corporation for a cash payment of $433,000. The assets were on the books of Kingswood for the following amounts: Land: $42,000, Building cost $350,400 less Accumulated Depreciation of $73,000, and Land Improvements cost $30,000 less Accumulated Depreciation of $10,000. The assets appraised values at the date of purchase are Land $131,600, Building $305,500, and Land Improvements $32,900.

Record the purchase of the assets on the books of Oriole. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

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Record the disposal on the books of Kingswood. Record as one entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit