Allocating payments and receipts to fixed asset accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk a. Fee paid to attorney for title search $2,500 b. Cost of real estate acquired as a plant site: Land 280,000 Building (to be demolished) 60,000 c. Delinquent real estate taxes on property, assumed by purchaser 15,500 d. Cost of razing and removing building acquired in (b) 5,000 e. Proceeds from sale of salvage materials from old building 4,000- f. Special assessment paid to city for extension of water main to the property 28,000 9. Architect's and engineer's fees for plans and supervision 70,000 5,000 h. Premium on one-year insurance policy during construction L Cost of filling and grading land J. Money borrowed to pay building contractor k. Cost of repairing windstorm damage during construction 1. Cost of paving parking lot to be used by customers m. Cost of trees and shrubbery planted n. Cost of floodlights installed on parking lot 13,000 800,000. 5,500 32,000 10,000 2,000 o. Cost of repairing vandalism damage during construction 2,000 p. Proceeds from insurance company for windstorm and vandalism damage 7,500 q. Payment to building contractor for new building 900,000 Interest incurred on building loan during construction 34,500 s. Refund of premium on insurance policy (h) canceled after 11 months Required: 500-