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18 After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was located. The negotiated purchase
18 After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was located. The negotiated purchase price for this real estate was $1,900.000 for the lot plus $620.000 for the building. The company paid $89,000 to have the old building torn down and $119.000 for levelling the lot. Finally. it paid $3,580,000 in construction costs, which included the cost of a new building plus $229,000 for lighting and paving a parking lot next to the building. Present a single journal entry to record the costs incurred by Kallisto, all of which were paid in cash (assume a date of March 10, 2023, for your entry). 3 0244-46 Journal entry worksheet Record
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