4 points On December 1, 2021. Pittoss Corp., a privately owned corporation, started operations. They signed a large contract to build a factory over a 2-year time period. Their client Mr. Falconi paid them $150.000 in advance. Pitless will begin construction in 2 months' time. In order to begin construction Press purchased the following items (20 Marks) Crane for $180.000 on December 1, 2021. They expect this crane to be useful for 7 years. Bulldozer for S36,000 to be used for 11 years On December 15, 2021, Pilless got an exceptional price on a plot of land. The land cost $275,000 and will be held for 10 years. At that point Pitless will expand operations and possibly change locations. Prens obtained two insurance policies: policy A obtained December 1, 2021 in the amount of $12,500 for 24 months and policy Bobtained December 15, 2021 for $7,500 for 15 months 1 2 3 4 Pities also paid $35,000 to rent a dump truck on December 1, 2021 to be used in construction for the next 2 years Instructions: Record all the transactions Pitless Corp Transactions Debit Credit Dec 1 Dec 1 Dec 1