eBook Print Item Allocating Payments and Receipts to Fixed Asset Accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale cera business. The receipts are identified by an asterisk. a. Fee paid to attorney for title search b. Cost of real estate acquired as a plant site: Land $3,100 Building (to be demolished) 330,500 c. Delinquent real estate taxes on property, assumed by purchaser 31,400 d. Cost of tearing down and removing building acquired in (b) 18,600 e. Proceeds from sale of salvage materials from old building 5,200 f. Special assessment paid to city for extension of water main to the property 3,100^(**) g. Architect's and engineer's fees for plans