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Cala Manufacturing purchases land for $413,000 as part of its plans to build a new...

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Accounting

Cala Manufacturing purchases land for $413,000 as part of its plans to build a new plant. The company pays $42,300 to tear down an old building on the lot and $62,530 to fill and level the lot. It also pays construction costs of $1,336,000 for the new building and $84,332 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.
Journal entry worksheet
A
Record the total costs of the plant assets.
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