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After planning to bulid a new plant, Kallisto Backpack Manufacturing purchased a large lot on...

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Accounting

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After planning to bulid a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was located. The negotiated purchase price for this real estate was $1,600,000 for the lot plus $560,000 for the bulding. The company paid $83,000 to have the old building torn down and $113,000 for levelling the lot. Finally. it paid $3,280,000 in construction costs, which included the cost of a new building plus $223,000 for lighting and paving a parking lot next to the building Present a single journal entyy to record the costs incurred by Kallisto, all of which were paid in cash (assume a date of March 10, 2023, for your entry)

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