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1 Blackstone entered into a $4,400,000 fixed price contract with Barnett Builders, Inc., on March 1, 2021, for the construction of an office building on and site 11 The building was completed and occupied on September 30, 2022 Additional construction costs were incurred as follows: $20.000 98, specifications, and blueprints Architects ters for design and supervision hod To finance the construction cost Blackstone borrowed $4,400,000 on March 12021. The loan is payable in 10 annual installments of $440.000 plus interest at the rate of 12%. Blackstone's average amounts of accumulated building construction expenditures were as follows: rence $1,000,000 5.000.000 For the period March 1 to December 31, 2021 For the period anuary 1 to September 30, 2022 Required: 1. Prepare a schedule that discloses the individual costs making up the balance in the land account in respect of land site it as of September 30, 2022 2. Prepare a schedule that discloses the individual costs that should be capitalized in the office building account as of September 30, 2022 HI 03: Unit Problems 1 ured! Required 2 10 Doint Prepare a schedule that discloses the individual costs that should be capitalized in the office building account as of September 30, 2023. (Do not round intermediate calculations.) BLACKSTONE CORPORATION Capital Cost office building As of September 30, 2022 flook References 5 0 Total capitalized cost September 30, 2022

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