Cala Manufacturing purchases land for $$331,000$ as part of its plans to build a new plant. The company pays $$34,300$ to tear down an old building on the lot and $$50,704$ to fill and level the lot. It also pays construction costs of $$1,414,300$ for the new building and $$89,275$ for lighting and paving a parking area.

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

Journal entry worksheet

A

Record the total costs of the plant assets.