Culver Resorts began construction of a new hotel on December 1,2025. On this date, the company purchased a parcel of land for $262.000 in cast, In addition, it paid $2,700 in surveying costs and $7.200 for a title insurance policy. An old dwelling on the premises was dernolished at a cost of $8,900, with $2.200 being received from the sale of materials. Architectural plans were also formalized an December 1,2025, when the architect was paid $61,000. The necessary building permits costing $16000 were obtained from the city and paid for on December 1 as well. The excivation work began during the first week in Decernber with parments made to the contractor as follows: The building was enmpleted on July 1.2026. To finarice construction of this hotel, Culver borrowed \$2,480,000 from the bank on December 1.2025. Culver tad no other borrowines: The $2.400000 wasa 10 -year loan bearing interest at 6% Compute the balance in each of the following accounts at December 31, 2025, and December 31, 2026. (Round answers to O decimal plocer es 5,275