A company made the following expenditures in connection with the construction of a new building: Architect's fees Cash paid for land and unusable building on the land Removal of old building Salvage from sale of old building materials Construction survey Legal fees for title search Excavation for basement construction Machinery purchased for operations Storage and delivery charges on machinery because building was not ready when machinery was delivered Freight on machinery purchased Construction costs of new building Installation of machinery $12,000 300,000 18,000 (4,000) 1,500 3,000 25,000 100,000 900 1,600 1,000,000 2,500 Prepare a schedule showing the amounts to be recorded as Land, Buildings, and Machinery Answer Land Building Machinery