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Reebok purchased land for $390,000 as part of its plans to build a new plant....

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Accounting

Reebok purchased land for $390,000 as part of its plans to build a new plant. The company pays $33,500 to tear down an old building on the lot the and $47,000 to fill and level the lot. It also pays construction costs of $1,452,200 for the new building and $87,800 for lighting and paving a parking area.
Prepare a single Journal entry to record these costs incurred by Reebok, all of which are paid in cash.

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