During 2020, Lee Inc. paid $205,000 for land and built a restaurant in Collingwood, Ontario. Prior to construction, the city of Collingwood charged Lee Inc. $1,500 for a building permit, which Lee Inc. paid. Lee also paid $15,500 for architect's fees. The construction cost of $695,000 was financed by a long-term note payable issued on January 1, 2020, with interest cost of $28,920 paid at December 31, 2020. The building was completed September 30, 2020. Lee Inc. will depreciate the building by the straight-line method over 25 years, with an estimated residual value of $60,000. Bequirements Requirement 1. Journalize transactions for the following: (Record debits first, then credits. Explanations are not required. Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.) a. Purchase of the land. Date Accounts b. All the costs chargeable to the building, in a single entry Date Accounts Debit Credit Debit Credit