Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $357,000 as part of its plans to build a new plant. The company pays $35,600 to tear down an old building on the lot and $52,626 to fill and level the lot. It also pays construction costs of $1,332,700 for the new building and $84,124 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 1 Land Building General Journal Debit 441,226 Credit Land improvements Cash 1,796,800 113,419 2,351,445 Record entry Clear entry View general journal