Plant acquisitions for selected companies are as follows. 1. Cheyenne Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $714,000. At the time of purchase, Torres's assets had the following book and appraisal values. To be conservative, the company decided to take the lower of the two values for each asset acquired. The following entry was made. 2. Ayayai Enterprises purchased store equipment by making a $2,040 cash down payment and signing a 1-year, $23,460,10% note payable. The purchase was recorded as follows