Harrison Company was organized on January 1. During the first year of operations, the following expenditures and receipts were recorded in random order in the account, Land.

Debits

1.

Cost of real estate purchased as a plant site (land and building).

$ 250,000

2.

Accrued real estate taxes paid at the time of the purchase of the real estate.

$4,000

3.

Cost of demolishing building to make land suitable for construction of a new building.

$15,000

4.

Architect's fees on building plans.

$14,000

5.

Excavation costs for new building.

$24,000

6.

Cost of filling and grading the land.

$5,000

7.

Insurance and taxes during construction of building.

$6,000

8.

Cost of repairs to building under construction caused by a small fire.

$7,000

9.

Interest paid during the year, of which $54,000 pertains to the construction period.

$64,000

10.

Full payment to building contractor.

$780,000

11.

Cost of parking lots and driveways.

$46,000

12.

Real estate taxes paid for the current year on the land.

$4,000

Total Debits Credits $1,219,000

CREDITS

13.

Insurance proceeds for fire damage.

$3,000

14.

Proceeds from salvage of demolished building

$3,500

Total Credits = $6,500

Analyze the foregoing transactions using the following tabular arrangement. Insert the number of each transaction in the Item space and insert the amounts in the appropriate columns below.

Item Land Buildings Other Account Title