Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $279,000 as part of its plans to build a new plant. The company pays $41,500 to tear down an old building on the lot and $61,348 to fill and level the lot. It also pays construction costs of $1,630,000 for the new building and $102,890 for lighting and paving a parking area. 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 A Record the total costs of the plant assets. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal