Pittsfield Sound Center pays $$310,000$ for a group purchase of land, building, and equipment. At

the time of acquisition, the land has a current market value of $$34,000,$ the building's current

market value is $$221,000,$ and the equipment's current market value is $$85,000.$ Prepare a

schedule allocating the purchase price of $$310,000$ to each of the individual assets purchased

based on their relative market values, then journalize the lump$-$sum purchase of the three

assets. The business signs a note payable for the purchase price.

Prepare a schedule allocating the purchase price of $$310,000$ to each of the individual assets

purchased based on their relative market values, then journalize the lump$-$sum purchase of the

three assets. The business signs a note payable for the purchase price.

Begin by preparing a schedule allocating the purchase price of $$310,000.($Do not enter the $\%$

sign within the input fields of the Percentage of Total Market column.$)$