Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method for the following entries; Dec 22: Purchased land and a building for a combined cost of $925,000 by signing a 5-year, 10% term note with a face value of $925,000. An appraisal shows that the land and building have individual fair market values of $400,000 and $600,000, respectively. The note is a term note whereby the face value and accrued interest will be due in five years. Interest is compounded annually