endwo apples to the questions displayed below On January 1, Mitzu Co. pays a lump-sum amount of $2,750,000 for land, Building 1. Building 2, and Land Improvements 1 Building has no value and will be demolished. Building 2 will be an office and is appraised at $732,000, with a useful ife of 20 years and a $75,000 salvage value. Land improvements 1 is valued at $549.000 and is expected to last another 18 years with no salvage value. The land is valued at $1.769,000. The company also incurs the following additional costs $340,400 187,400 Cost to demolish Building 1 Cost of additional land grading Cost to construct Building 3. having a useful life of 25 years and a $400,000 salvage value Cost of new Land Improvements 2 having a 20-year useful life and no salvage value 2,302,000 178,000 2. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1 O $ S 4 % 5 3 00 N 6 8 9 e t u d f g g h