During 2018 Ming's Book Store paid $488,000 for land and built a store in Georgetown, Washington DC. Prior to construction, the city of Georgetown charged Ming's $1900 for a building permit , which Ming's paid Ming's also paid $15,880 for architect's fees The construction cost of $715,000 was financed by a long-term note payable with interest costs of $30 200 paid at the completion of the project The building was completed June 30, 2018 Ming's depreciates the building using the straight-line method over 35 years with estimated residual value of $342.000 Read the CETERADE Requirement 1. Journalizo transactions for the following (explanations are not required). Purchase of the land b. All the costs chargeable to the building in a single ontry, and c. Depreciation on the building for 2018 (Record dobits first , then credits Exclude explanations from any journal entries) a. Journalize the purchase of the land Journal Entry Accounts Debit Credit Date b. Journalize all the costs chargeable to the building in a single entry. Journal Entry Debit Credit Date Accounts C. Journalize depreciation on the building for 2018 Journal Entry Debit Credit Date Accounts Requirement 2. Report Ming's plant assets on the company's balance sheet at December 31, 2018 Balance Sheet Plant assets Less Requirement 3. What will Ming's income statement for the year ended December 31, 2018, report for these facts? Income Statement - X i Requirements 1. Journalize transactions for the following (explanations are not required) a. Purchase of the land b. All the costs chargeable to the building in a single entry c. Depreciation on the building for 2018 2. Report Ming's plant assets on the company's balance sheet at December 31, 2018. 3. What will Ming's income statement for the year ended December 31, 2018, report for these facts? Print Done