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Check my work Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $479,000 as part of its plans to build a new plant. The company pays $25,300 to tear down an old building on the lot and $37,400 to fill and level the lot. It also pays construction costs of $1,386,100 for the new building and $87,495 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 Land 25.300 Land improvements Building Help Save & Exit Submit Check my work Diaz Company owns a machine that cost $126,100 and has accumulated depreciation of $93,900. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,500 cash. 3. Diaz sold the machine for $32,200 cash. 4. Diaz sold the machine for $41,200 cash. View transaction list 1 2. 3 4 > Record the sale of the machine for $17,500 cash. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Accumulated depreciationMachine 93,900 Cash 17.500 Loss on sale of machine 41,200 Machine 126, 100 Journal entry worksheet