On January 19, Ivanova Inc. buys a land that includes a building and a variety of land improvements (i.e. fencing, parking lots, etc.) for the $300,000 cash. The land was recently appraised at...

1. 
   
   On January 19, Ivanova Inc. buys a land that includes a building and a variety of land improvements (i.e. fencing, parking lots, etc.) for the $300,000 cash.
   

The land was recently appraised at $200,000, the building was recently appraised at $80,000, and the land improvements were recently appraised at $40,000.

Journalize the basket purchase of the land, building, and land improvements