Plant acquisitions for selected companies are as follows. 1. Oriole Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $742,000. At the time of purchase, Torres's assets had the following book and appraisal values. Book Values Land Buildings Equipment $212.000 265,000 318,000 Appraisal Values $159,000 371,000 318,000 To be conservative, the company decided to take the lower of the two values for each asset acquired. The following entry was made. Land Buildings Equipment Cash 159.000 265.000 318.000 742.000 2. Waterway Enterprises purchased store equipment by making a $2.120 cash down payment and signing a 1-year, $24,380, 10% note payable. The purchase was recorded as follows. Equipment 28.938 Cash 2.120 Notes Payable 24,380 Interest Payable 2,438 3. Wildhorse Company purchased office equipment for $20,800, terms 2/10, 1/30. Because the company intended to take the discount, it made no entry until it paid for the acquisition. The entry was: 20.800 Equipment Cash Purchase Discounts 20.384 416 4. Sheffield Inc. recently received at zero cost land from the Village of Cardassia as an inducement to locate its business in the Village. The appraised value of the land is $28,620. The company made no entry to record the land because it had no cost basis. 5. Tamarisk Company built a warehouse for $636,000. It could have purchased the building for $784,400. The controller made the following entry. 784,400 Buildings Cash Profit on Construction 636,000 148,400 Prepare the entry that should have been made at the date of each acquisition. (Round intermediate calculations to 5 decimal palces, es. 0.56487 and final answers to decimal places, eg. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 139125 1. Land 324625 Buildings Equipment 278250 MULL 1. Land 139125 324625 Buildings 278250 Equipment 742000 Cash 2. Equipment 26500 2120 Cash 24380 Notes Payable 3. 5