Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $292,000 for the lot plus $187,000 for the old building. The company pays $27,200 to tear down the old building and $40,209 to fill and level the lot. It also pays a total of $1,493,475 in construction coststhis amount consists of $1,404,800 for the new building and $88,675 for lighting and paving a parking area next to the building.

Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.