The Harris Corporation acquired a building and land by issuing 25,000 shares of $1 par common stock.At that time, the stock was selling for $12 per share on the New York Stock Exchange.The independently appraised values of the building and the land were $250,000 and $150,000 respectively.

Required:

What is the journal entry for the acquisition of the building and land? Use 3 decimal points for allocation calculations