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. E9-2 (Algo) Part 2 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.) No Transaction General Journal A 1 Buildings Land Cash Debit Credit 70,000 60,000 130,000