Question 15 Christopher Company has acquired a property that included both land and equipment for $850,000. The company purchased the assets with a note payable. The company hired an appraiser who has determined that the market value of the land is $300,000 and the market value of the equipment is $750,000. What is the journal entry for the lump-sum purchase? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) a. Land Equipment Cash 603,500 246,500 850,000 b. Land 246,500 Equipment 603,500 Notes Payable 850,000 c Land 246,500 Equipment 603,500 Cash 850,000 d. Land 603,500 Equipment 246,500 Notes Payable 850,000 Question 15 of 15