Cost of Property, Plant, and Equipment Consider the following ist of expenditures and indicate whether each would be debited to Land, Building, or Equipment as part of the cost to Debit Land? Real estate fees Cost to remove old buildings Cost to pave parking areas Tax assessment for streets Debit Building? Cost of land on which the building is located Legal fees related to purchase Taxes related to purchase Realtor fees Interest on construction loan while building was under construction Debit Equipment? Transportation charges Insurance while in transit Installation costs Interest on loan to buy equipment