He bought a piece of land and paid $95,000 dollars in cash plus a note payable of $270,000 dollars (the rate was RD$57.00 per dollar). In addition, yesterday I paid $20,000 pesos in arrears tax on assets, $300,000 pesos to level the land and demolish the unwanted building. The company then built an office building at a cost of $15,500.00, insured the building for RD$100,000.00 per year. He also paid $502,000 for a fence around the property, $17,000 for a sign near the entrance and $4,000 for special lighting in the lots.

It is required to send in excel: 1.Determine the cost of the land, as well as improvements to the land and the building.

2. Make the corresponding journal entries.

3. This question is only to recover points from the first part: find the dollar rate on January 31, 2022, with this rate make the necessary exchange adjustments to show the real liabilities of the company and indicate if it is a negative or positive adjustment and because?