Pittsfield Sound Center pays $330,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $144,000, the building's current market value is $108,000, and the equipment's current market value is $108,000. Prepare a schedule allocating the purchase price of $330,000 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 $330,000 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 $330,000. Market Percentage (Sales) of Total Cost of Asset Value Market Value Each Asset Land % Building % Equipment % Total 100 %