Value less Uldil CSL S7-2. (Learning Objective 1: Measure and record the cost of individual assets in a lump-sum purchase of assets) Graves Automotive pays $320,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $112,000, the building's current market value is $227,500, and the equipment's current market value is $10,500. Journalize the lump-sum purchase of the three assets for a total cost of $320,000. The business signs a note payable for this amount. madinte xhense)