Questor Applications pays $340,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $148,000, the building's current market value is $185,000, and the equipment's current market value is $37,000. Prepare a schedule allocating the purchase price of $340,000 to each of the individ ual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs payable for the purchase price. note Prepare a schedule allocating the purchase price of $340,000 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 $340,000. Market Percentage (Sales) of Total Cost of Market Value Each Asset Asset Value % and Building 0% % Equipment 100 % Total