Exercise 10-2 Recording costs of assets LO C1 Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $280,000 for the lot plus $110,000 for the old building The company pays $33,500 to tear down the old build $47000 to fill and level the lot. It also pays a total of $1,540,000 in construction costs-this a building and $87800 for lighting and paving a parking area next to the building ing and amount consists of $1.452200 for the new Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. View transaction list Journal entry worksheet Record the total costs of the plant assets. Note: Enter debits before credits Transaction General Journal Debit Credit