Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant The negotiated purchase price is $236.000 for the lot plus $131.000 for the old building. The company pays $31,000 to tear down the old building and 45.826 to fill and level the lot It also pays a total of $1.302964 in construction costs-this amount consists of $1.225600 for the new bulding and $77,364 for lighting and paving a parking area next to the building Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash Journal entry worksheet Record the total costs of the plant assets 4 tab