Skysong Corp. (SC) acquired a small 10-store shopping mall in Eastern Canada for 1,251,000 on February 2, 2023. The mall qualifies as investment property under IAS 40 Investment Property. At this time, nine of the stores were leased, with remaining lease terms of two to four years. In addition to the purchase price, SC has to pay a $37,000 property transfer fee and legal fees of $3,000 and the company decided to paint the empty store at a cost of $2,000 before advertising it for rent. The acquisition was financed by assuming a $780,000 mortgage from the previous owner, who also turned over $32,000 of tenant damage deposits. The remainder of the transaction was settled in cash. On December 31, 2023, the fair value of the shopping centre property was determined to be $1,288,000, on December 31, 2024. It was 1,277,000; and on December 31, 2025, it had risen to 1,355,000. SC has a December 31 year end and applied the fair value method to all its investment property.

Provide a summary journal entry to record the acquisition of the property on February 2, 2023.