Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $335.000 as part of its plans to build a new plant. The company pays $32,900 to tear down an old building on the lot and $48,635 to fill and level the lot. It also pays construction costs $1651,300 for the new building and $104.235 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cats, all of which are paid in cash. View transaction list Journal entry worksheet A Record the total costs of the plant assets. Note Enter debts before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal