2 Exercise 8-2 Recording costs of assets LO C1 purchase pnce is $280,000 for the iot plus $10,000 for the old buiding. The company pays $33,500 to tear down the old bul and $47,000 t new bulding and $87,800 for lightng and paving a parking area next to the building facturing purchases a large lot on which an oid building is located as part of ts plans to buid a new plant. The negotated to fill and level the lot. It also pays a total of $1,540,000 in construction costs-thls amount consists of $1,452 200 for the Prepare a sngle yournal entry to record these costs Incured by Cala, l of which are pald in cash. Journal entry worksheet SPrev 2 of 9 Next > Type here to search di