Rural Tech Support paid $170,000 for a group purchase of land, building, and equipment. At the time of the acquisition, the land had a market value of $90,000, the building $72,000, and the equipment $18,000. Journalize the lump-sum purchase of the three assets for a total cost of $170,000, the amount for which the business signed a note payable. (Record a single compound journal entry Record debits first, then credits. Select the explanation on the last line of the journal entry fable) Date Building Equipment Land Notes Payable Accounts and Explanation To record purchase of the assets with note payable Debit Credit 72000 18000 80000 170,000