View Policies Current Attempt in Progress Crane Company purchased land, a building and equipment on January 2, 2021, for $915,000. The company paid $160,000 cash and signed a mortgage note payable for the remainder. Management's best estimate of the value of the land was $378.000 of the building $434,700, and of the equipment, $132,300. Record the purchase. (Use Mortgage Payable for account.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 2 (To record purchase of property) Save for Later Attempts: 0 of 1 used Submit