Practice: On July 1, STLC purchased a building from EZ Construction by putting $60,000 as a down payment and signing a $320,000 note payable due in fifteen years. The note payable had an interest rate of 6% due semi-annually. Other details related to the purchase include: $4,200 in delinquent real estate taxes payable by STLC; $6,000 in brokerage commissions paid by EZ Construction; $1,100 in attorney fees paid by STLC; $11,000 for a company sign at the entrance to the property; and $2,000 for lighting around the grounds of the building. The building is expected to last forty years. What will be the journal entry to record the purchase of the building on July 1?