Below are transactions for Oriel Company: 1. Purchased land for $900,000. 2. Paid $20,000 to demolish building located on land. 3. Paid $3,000 for building permit. 4. Paid $2,000 for architect fees. 5. Paid $3,000 for excavation costs. 6. Paid interest of $22,000 during construction of new building. 7. Paid $960,000 to complete the building. 8. Paid $30,000 to pave the parking lot. 9. Paid $4,000 for underground sprinkler. 10. Ordered new equipment, paid $30,000. 11. Paid $1,500 to install and test new equipment. 12. Paid $250 to insure equipment for one year. 13. Paid $2,500 to paint office walls in the new building. 14. Paid $2,000 to repair equipment. 15. Purchased a truck for $25,000. 11. Paid $1,500 to install and test new equipment. 12. Paid $250 to insure equipment for one year. 13. Paid $2,500 to paint office walls in the new building. 14. Paid $2,000 to repair equipment. 15. Purchased a truck for $25,000. 16. Paid $250 for truck license. 17. Paid $60 for oil change on new truck. 18. Paid $15,000 for fences around the new building. 19. Purchased two cash registers for $1,100 each. 20. Paid $2,200 for annual yard maintenance. Instructions a) Determine if each item should be capitalized (C) or expensed (E). b) Determine the balance in the land account and the building account