Part A. (4 marks) Scarlett Incorporated purchased a tract of land with an office building and equipment included. The cash price was $900,000 plus $50,000 in fees connected with the purchase. The following data were collected concerning the property: Appraisal Vendor's Original Value Book Value Cost Land $220,000 $ 80,000 $ 80,000 Equipment 360,000 170,000 550,000 Office building 440,000 260,000 720,000 Required: Give the entry to record the purchase; show computations. Debit Credit