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Sheridan Landscaping began construction of a new plant on December 1, 2025. On this date,...

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Sheridan Landscaping began construction of a new plant on December 1, 2025. On this date, the company purchased a parcel of land for $152,900 in cash in addition, it p3id $2,200 in surveying costs and $4,400 for a tite trearnece poltey An old dupelling on the premises was demolished at a cost of $3,300, with $1,100 being recelved from the sale of materiak. Architecturai plans were also formalized on December 1,2025 , when the architect was paid 530,000 , The necessary building permits costing 53,300 were obtained from the city and paid for on December 1 as well. The excavation work began during the first week in Decomber with pryments made to the contractor in 2026 as follows: The buldine was campieted on July 1,2026. Compute the balance in exch of the followine accounts at December 31, 2025, and December 31,2026. The building was completed on July 1,2026. To finance construction of this plant, Sheridan borrowed $660,000 from the bank on December 1, 2025. Sheridan had no other borrowings. The $660,000 was a 10 -year loan bearing interest at 8%. Compute the balance in each of the following accounts at December 31,2025 , and December 31, 2026

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