$9$ Remembering

Question $3,$ SF$9-2($similar to$)$

HW Score: $52\mathrm{.}08\%,1\mathrm{.}56$ of $3$ points

Points: $0$ of $1$

Lexington Garden Supply paid $$200,000$ for a group purchase of land, building, and equipment. At the time of the acquisition, the land had a fair value of $$105,000,$ the building $$63,000,$ and the equipment $$42,000.$ Journalize the lump$-$sum purchase of the three assets for a total cost of $$200,000,$ the amount for which the business signed a note payable. $($Record a single compound jour entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$