- / 10 View Policies Current Attempt in Progress Sunland Company purchased land, a building, and equipment on January 2, 2021, for $895,000. 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 $370,000; of the building, $416,250; and of the equipment. $138,750. 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 2. (To record purchase of property.) List of Accounts Attempts: 0 of 1 used Submit Answer Save for Later ORA