Pitney Company purchased an office bullding. land, and furniture for $500,000cash. The appralsed value of the assets was as foliows. 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 journat entry to record the purchase. Complete this question by entering your answers in the tabs below. Compute the amount to be recorded on the books for each asset. Pitney Company purchased an offce building, land, and furniture for $500,000 cash. The appraised value of the assets was as follows Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchate in a horizontal statements model. c. Prepore the general journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Record the purchase in a horizontal statements medel. (In the Statement of Cash flows column, use the initiais oA to designate cperating activity, IA for inveating acti to indicate that an element is not affected by the event. Enter any decreases to account balances and cath outflows with a minus sign. Do not round intermedate calcu nearest whole dolian) 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: Complete this question by entering your answers in the tabs below. Prepare the general journal entry to record the purchase. (If no entry is required for a transactionvesent, salect "No journal entry required" in the first account field.) Journal entry worksheet Record purchase of land, bollding and fumiture for cash. Note; Enter Gebits before credis