Current Attempt in Progress Sheffield Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debit 1. Cost of filling and grading the land $ 4,500 2. Full payment to building contractor 680,500 3. Real estate taxes on land paid for the current year 4,500 Cost of real estate purchased as a plant site (land $115,000 and building $46,500) 161,500 5 . Excavation costs for new building 35,500 Architect's fees on building plans 12,500 7. Accrued real estate taxes paid at time of purchase of real estate 2,000 8. Cost of parking lots and driveways 13,500 9. Cost of demolishing building to make land suitable for construction of new building 26,000 $940,500 Credit 10. Proceeds from salvage of demolished building $ 3,500 Analyze the foregoing transactions using the following column headings. Insert the amounts in the appropriate columns. (If an amount reduces the account balance then enter with a negative sign preceding the number, e.g. -15,000 or parenthesis, e.g. (15,000).) Item Land Buildings Other Accounts 1. 2 3. 5