Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $261,000 as part of its plans to build a new plant. The company poy, $29,900 to tear down an old building on the lot and $44,200 to fill and level the lot. It also pays construction costs of $1,309,600 for the new building and $82,666 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. Record entry Clear entry View general journal