Bridge City Consulting bought a building and the land on which it is located for $100,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use. Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Clear entry Record entry View general journal