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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

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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 $267.000 for the lot plus $162,000 for the old building. The company pays $31,900 to tear down the old building and $47156 to fill and level the lot. It also pays a total of $1.456,053 in construction costs--this amount consists of $1,369,600 for the new building and $86.453 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. Answer is not complete. No Transaction General Journal Debit 1 Credit 508,056 $ Land Building Land improvements Cash 1.456,053 86,453 2.050,562

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