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On January 1, Mitzu Co. pays a lump-sum amount of $2,650,000 for land, Building 1, Building 2, and Land Improvements 1 . Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $540,000, with a usefur life of 20 years and a $80,000 salvage value. Land Improvements 1 is valued at $600,000 and is expected to last another 20 years with no salvage value. The land is valued at $1,860,000. The company also incurs the following additional costs Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1 Journal entry worksheet Record the cost of the plant assets, paid in cash. Wote: Enter debits before credits