Pitney Company purchased an office building, land, and furniture for $645,500 cash. The appraised value of the assets was as follows.

Land	$ 137,362
Building	187,970
Furniture	397,628
Total	$ 722,960

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.

\begin{tabular}{|l|c|} \hline & \multicolumn{1}{|c|}{ Allocated Cost } \\ \hline Land & \\ \hline Building & \\ \hline Furniture & \\ \hline Total & $ \\ \hline \end{tabular}