Paul Moss, owner of Moss Interiors, is negotiating for the purchase of Crane Galleries. The balance sheet of Crane is given in an abbreviated form below. Crane Gallaries Balance Sheet As of December 31, 2020 Assets Liabilities and Stockholders' Equity Cash $112.000 Accounts payable $50,300 Land 70,700 Notes payable (long-term) 299.800 Buildings (net) 200,700 Total liabilities 350,100 Equipment (net) 175,700 Common stock $201,400 Copyrights (net) 30,700 Retained earnings 38.300 239,700 Total assets $589,800 Total liabilities and stockholders' equity $589,800 Moss and Crane agree that: 1. Land is undervalued by $30,000. 2. Equipment is overvalued by $5,000. Crane agrees to sell the gallery to Moss for $350,000. Prepare the entry to record the purchase of Crane Galleries on Moss's books. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit