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. Fee paid to attorney for title search a. b. Cost of real estate acquired as a plant site: Land Building (to be demolished) $3,700 384,500 36,500 C. Delinquent real estate taxes on property, assumed by purchaser 21,600 d. Cost of tearing down and removing building acquired in (b) 6,100 e. Proceeds from sale of salvage materials from old building 3,600* f. Special assessment paid to city for extension of water main to the property 14,400 g. Architect's and engineer's fees for plans and supervision 52,900 h. Premium on one-year insurance policy during construction 5,100 i. Cost of filling and grading land 21,100 j. Money borrowed to pay building contractor 901,600** k. Cost of repairing windstorm damage during construction 6,600 I. Cost of paving parking lot to be used by customers 18,300 m. Cost of trees and shrubbery planted 10,900 n. Cost of floodlights installed on parking lot 1,200 0. Cost of repairing vandalism damage during construction 3,000 p. Proceeds from insurance company for windstorm and vandalism damage 7,200* 9. Payment to building contractor for new building 961,200