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1. Bargain Banners pays $360,000 cash or a group purchase of land buldng and equipment. At the time of acquisition, the land has a market value of S140,000 the building $240,000, and the equipment $20,000. Joumalize thelum-sum purchase Price First.telor to the information provided and calculate the ratio of each asset's market value to the total for at assets combined. Then, completo the table and calculato the sound cost for och se Total Assigned Percentage Purchase Cost of Each Asset Market Value of Total Value Asset Land Buning Equipment Total Now unazo the up-cum purchase. (Record a single compound journal entry Record debit first, the credits. Select the explanation on the one of the jumal entry) Date Accounts and Explanation Debit Credit