- Ex 6 - Enter the effect of each transaction on the accounts below: 11/15/X1 - Paid $500000 to buy land worth $300000 & building worth $200000. (You plan to demolish the building.) 12/1/X1 - Paid $100000 to tear down the old building. 12/15/X1 - Received $25000 back for materials salvaged from the old building. 12/31/X1 - Paid $25000 to fill and grade the lot. Another $50000 was paid to lay sod and plant trees. 1/5/X2 - Paid $50000 to build a retaining wall, pave a parking lot, and put in sprinklers. 3/15/X2 - Paid $75000 to dig the trench for the foundation, & 1000000 to construct the new building. 6/1/X2 - Paid $45000 in interest for the period the building was under construction. Date Land Land Improvements Building Other 11/15/20X1 12/1/20X1 12/15/20x1 12/31/20x1 1/5/20X2 3/15/20X2 6/1/20X2 X Totals X X