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After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was locoted. The negotiated purchase price

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After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was locoted. The negotiated purchase price for this real estate was $1,250,000 for the lot plus $490,000 for the building. The company paid $76,000 to have the old building torn down and $106,000 for levelling the lot. Finally, it paid $2,930,000 in construction costs, which included the cost of a new building plus $216,000 for lighting and parving a parking lot next to the bullding Present a single joumal entry to record the costs incurred by Kalisto, all of which were paid in cash (assume a date of March 10, 2023, for your entry)

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