Concord Landscaping began construction of a new plant on December 1, 2017. On this date, the company purchased a parcel of land for $147,600 in cash. In addition, it paid $3,120 in surveying costs and $4,080 for a title insurance policy. An old dwelling on the premises was demolished at a cost of $3,120, with $960 being received from the sale of materials. Architectural plans were also formalized on December 1, 2017, when the architect was paid $34,800. The necessary building permits costing $3,120 were obtained from the city and paid for on December 1 as well. The excavation work began during the first week in December with payments made to the contractor in 2018 as follows. Date of Payment Amount of Payment March 1 $248,400 May 1 340,800 July 1 61,200 The building was completed on July 1, 2018. To finance construction of this plant, Concord borrowed $602,400 from the bank on December 1, 2017. Concord had no other borrowings. The $602,400 was a 10-year loan bearing interest at 9%. Compute the balance in each of the following accounts at December 31, 2017, and December 31, 2018. (Round answers to 0 decimal places, e.g. 5,275.) December 31, 2017 December 31, 2018 (a) Balance in Land Account Entry field with incorrect answer now contains modified data Entry field with incorrect answer now contains modified data (b) Balance in Building Entry field with incorrect answer Entry field with incorrect answer (c) Balance in Interest Expense Entry field with incorrect answer Entry field with incorrect answer