Pitney Company purchased an office building, land, and furniture for $745,400 cash. The appraised value of the assets was as follows. Land $ 100,182 Building 258,803 Furniture 475,863 Total $ 834,848

Required

a. Compute the amount to be recorded on the books for each asset.

b. Show the purchase in a horizontal statements model.

c. Prepare the general journal entry to record the purchase.