Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $489,000 as part of its plans to buld a new plant. The company pays $30,800 to tear down an old bulding on the lot and $45,530 to fill and level the lot, It also pays construction costs of $1,544,400 for the new building and $97,487 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Calo, all of which are paid in cash. Journal entry worksheet Plecord the total costs of the plant assets. Note Enter debuls befare credies