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Cala Manufacturing purchases land for $319,000 as part of its plans to build a new...

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Accounting

Cala Manufacturing purchases land for $319,000 as part of its plans to build a new plant. The company pays $27,200 to tear down an old building on the lot and $40,209 to fill and level the lot. It also pays construction costs of $1,258,100 for the new building and $79,415 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash

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