After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was located. The negotiated purchase price for this real estate was $$1,900,000$ for the lot plus $$620,000$ for the building. The company paid $$89,000$ to have the old building torn down and $$119,000$ for levelling the lot. Finally, it paid $$3,580,000$ in construction costs, which included the cost of a new building plus $$229,000$ for lighting and paving a parking lot next to the building.

Present a single journal entry to record the costs incurred by Kallisto, all of which were paid in cash $($assume a date of March $10,2023,$ for your entry$).$

Journal entry worksheet

$1$

Record the costs of plant assets.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$March $10,2023,,,],[,,,],[,,,],[,,,]]$