wildhorse company purchased real estate for $$1,155,000,$ which included $$4,600$ in legal fees. It paid $$255,000$ cash and incurred a mortgage payable for the balance. The real estate included land that was appraised at $$473,900,$ a building appraised at $$758,240$ and fences and other land improvements appraised at $$121,860.$ The building has an estimated useful life of $60$ years and a $$51,000$ residual value. Land improvements have an estimated $15-$year useful life and no residual value.

Record the purchase of the real estate