Sandhill Farms purchased real estate for $1,160,000. which included $4,800 in legal fees. it paid $257.000 cash and inairred a mortgage payable for the balance. The real estate included land that was appraised at 5496,540 a buildinz aperaised at 5724,680 , and fences and other land improvements appraised at $120,780. The building has an estimated useful life of 60 years and a 548.000 residual value. Land improvements have an estimated 15 -year useful life and no residual value (a) Calculate the cost that should be allocated to each asset purchased. Land Record the purchase of the real estate. (Credit ocoount titles are outomatically indented when the ameunt is entered. Do nat indent. manually. If no entry is required, select "No Entry" for the account titles and enter O for the omounts. Llst all debit entries before credit entries)