You have prepared, you have reviewed and you are ready! Use that preparation to complete the exercises below. Note 1: no journal entry descriptions are required throughout. Note 2: Communication is evaluated based on journal entry format and clarity of schedules/calculations. (1) On July 1, 2022, Frozen Company purchased a property for $800,000 cash. The property included the following capital assets: Land Building Equipment Paved area Appraised Value $220,000 350,000 300,000 20,000 10,000 Lighted area Instructions (a) Prepare the journal entry (6A) to allocate the purchase price between the above assets. Round all amounts to the nearest dollar, if necessary. Show your calculations in the table below (3K, 5T). Asset FMV Total FMV of Basket Purchase Percentage Allocated Total Basket Purchase Amount Allocated ***journal paper on next page***