Exercise 8-6A Allocating costs for a basket purchase LO 8-1 Pitney Co. purchased an office building, land, and furniture for $500,000 cash. The appraised value of the assets was as follows: Land Building Furniture Total $180.000 300,000 120,000 $600,000 Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount to be recorded on the books for each asset. Allocated Cost Land Buliding Furniture Total Required A Required > Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Show the purchase in a horizontal statements model. (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing for not change in cash. Enter any decreases to account balances with a minus sign. Not all cells in the "Statement of Cash Flows column may require an input leave cell no corresponding input needed.) PITNEY CO. Statements Model - Equity - Cash Flows Revenue Expenses - Net Income i Land ng Furn. Cass ( Required A