Exercise 10-5 Larkspur Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. $936 5,706 156,600 $36,000 9,900 26,100 13,320 34,200 99,000 2,412 Abstract company's fee for title search Architect's fees Cash paid for land and dilapidated building thereon Removal of old building Less: Salvage Interest on short-term loans during construction Excavation before construction for basement Machinery purchased (subject to 2% cash discount, which was not taken) Freight on machinery purchased Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered New building constructed (building construction took 6 months from date of purchase of land and old building) Assessment by city for drainage project Hauling charges for delivery of machinery from storage to new building Installation of machinery Trees, shrubs, and other landscaping after completion of building (permanent in nature) 3,924 873,000 2,880 1,116 3,600 9,720 Determine the amounts that should be debited to Land, to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation. Company uses net method to record discount. (Please leave spaces blank if there is no answer. Do not enter zeros in those spaces.) Land Buildings Machinery and Equipment Other Abstract company's fee for title search Architect's fees Cash paid for land and old building Removal of old building Interest on short-term loans during construction Excavation before construction for basement Machinery purchased Freight on machinery purchased Storage charges on machinery New building constructed Assessment by city for drainage project Hauling charges Installation of machinery Trees, shrubs, and other landscaping Click if you would like to show Work for this question: Open Show Work