El Company purchased assets of Whitney Inc. at auction for $1,560,000. An independent appraisal of the fair value of the assets acquired is listed below: Land Building Equipment Inventorien $171,600 514,800 600, 600 429,000 Required: Prepare the journal entry to record the purchase of the assets. (if no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet