1.	On July 2, 2021, True Rock Corporation exchanged some of its common shares for a parcel of land on which a new warehouse would be constructed. Other information pertaining to the purchase of the land follows:
9 marks
	Appraisal value of the land					$ 300,976
	Fair value of True Rock Corporation's common shares (per share)	$ 79
	Number of common shares given in exchange for the land	4,000
	True Rock Corporation began the process of developing the land and constructing the building on July 2, 2021. The following costs were incurred (or proceeds received) in connection with this project:
	Date	Description	Amount
	July 2, 2021	Back taxes were paid on the land purchased.	$ 9,029
	July 15, 2021	Received proceeds from the sale of scrap when an existing building on the land was removed from the site.	$ 21,068
	July 17, 2021	Paid an architect to develop blueprints for the construction of the new building.	$ 6,020
	July 25, 2021	Paid a local contractor to grade and fill the building site.	$ 12,039
	August 7, 2021	Paid for an assessment by the city for a drainage system.	$ 15,049
	August 31, 2021	Paid a local contractor for the construction of the warehouse.	$ 165,537
	September 6, 2021	Paid for the construction of a fence around the new warehouse.	$ 6,020
	September 6, 2021	Paid for the construction of a parking lot next to the new warehouse.	$ 18,059
	Required:
	Prepare any journal entries required for each of the above transactions from July 2, 2021 to September 6, 2021. Assume that True Rock follows IFRS.