Exercise 10-05 Sandhill Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Abstract companys fee for title search $728 Architects fees 4,438 Cash paid for land and dilapidated building thereon 121,800 Removal of old building $28,000 Less: Salvage 7,700 20,300 Interest on short-term loans during construction 10,360 Excavation before construction for basement 26,600 Machinery purchased (subject to 2% cash discount, which was not taken) 77,000 Freight on machinery purchased 1,876 Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 3,052 New building constructed (building construction took 6 months from date of purchase of land and old building) 679,000 Assessment by city for drainage project 2,240 Hauling charges for delivery of machinery from storage to new building 868 Installation of machinery 2,800 Trees, shrubs, and other landscaping after completion of building (permanent in nature) 7,560 Determine the amounts that should be debited to Land, to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation. Company uses net method to record discount. (Please leave spaces blank if there is no answer. Do not enter zeros in those spaces.) Land Buildings Machinery and Equipment Other Abstract fees $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount Architects fees enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Cash paid for land and old building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Removal of old building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Interest on loans during construction enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Excavation before construction enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Machinery purchased enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Freight on machinery enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Storage charges caused by noncompletion of building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount New building enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Assessment by city enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Hauling charges - machinery enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Installation - machinery enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Landscaping enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount