Allocate Payments and Receipts to Food Asset Accounts The following payments and receipts are related to land, and improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by a. Architects and engineer's ters for plans and supervision 39,300 15,700 h. Cast at filling and grading land Cost of removing building purchased with land in el d. Cost of paving paring lot to be used by customers A. Cost at real estate acquired as a plant site: Land ($286,000) and Building 1$27,200) 13,600 313,200 t. Cost of repairing windstorm damage during construction 9. Cost at repairing vandalom damage during construction h. Cost of trees and shrubbery planted 1 Delinquent real estate taxes on property assumed by purchaser 1. Fee paid to attorney for title search k. Finders toe paid to real estate agency 1. Interest incurred on buliding loan during construction m. Money bomowed to pay building contractor 2,200 8,100 10,700 2,700 000 32,600 670.800 715,100 5,400 3,800 2,700" 360 16,100 n. Payment to building contractor for new building 0. Proceeds from Insurance company for windstorm and vandalism damage p. Premium on one-year Insurance policy during construction 9. Proceeds from sale of salvan materials from old building 1. Rotund at premium on Insurance policy ID) canceled after 11 months 5. Special assessment paid to dty for extension of water main to the property Instructions: 1. Assign each payment and receipt to Land (unlimited life), Land Improvements (limited life), Building, or Other Accounts by selecting from the corresponding item from the dropdown list. Enter receipts as negative amounts. Item Amount Account Land improvements Buliding Other counts 2. Determine the increases to Land, Land Improvements, and Building. Land Land Improvements Building 3. Which of the following would be depreciated tor the wholesale apparel business? The cost of filling and grading the land acquired as a plant site. The cost of paving the parking lowed by customers of the business. A special assessment paid to city for an extension of the water main to the plant site. Delinquent real estate taxes on the land