Foley Distribution Service paid $130,000 for a group purchase of land, building, and equipment. At the time of the acquisition, the land had a market value of $70,000, the building $42,000, and the...

Foley Distribution Service paid $130,000 for a group purchase of land, building, and equipment. At the time of the acquisition, the land had a market value of $70,000, the building $42,000, and the equipment $28,000. Journalize the lump-sum purchase of the three assets for a total cost of $130,000, the amount for which the business signed a note payable.