Asset 5: Equipment was acquired by issuing 100 shares of $14 per value common stock. The stock had a market price of $20 per share Construction of Building: A building was constructed on land purchased last year at a cost of $270,000. Construction began on February 1 and was completed on November 1. The payments to the contractor were as follows. Date 2/1 6/1 9/1 11/1 Payment $216.000 64R OOO 864.000 180.000 To finance construction of the building, a $1,080,000, 12% construction loan was taken out on February 1. The loan was repaid on November 1. The firm had $360,000 of other outstanding debt during the year at a borrowing rate of 8%. Record the acquisition of each of these assets. (Round intermediate calculations to 5 decimal places, eg. 1.25124 and final answer to decimal places eg, 58,971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Acquisition of Asset 5 Equipment Common Stock 1400 Pald-in Capital In Excess of Par-Common Stock (To record acquisition of Office Equipment) Buildings Land 270000 Interest Expense Cash