In $2024,$ Carla Vista Company had the following transactions related to the purchase of a property. All transactions were for cash $($a$)$

Record the above transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If

no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record

journal entries in the order presented in the problem.$)$

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$20\%$ score reduction after attempt $1$

$($b$)$

unless otherwise stated.

Jan. $12$ Purchased real estate for a future plant site for $$408,000,$ paying $$88,000$ cash and signing a note payable for the

balance. On the site, there was an old building. The fair values of the land and building were $$398,000$ and $$38,000,$

respectively. The old building will be demolished and a new one built.

$16$ Paid $$7,800$ for legal fees on the real estate purchase.

$31$ Paid $$40,000$ to demolish the old building to make room for the new plant.

Feb. $13$ Received $$8,800$ for residual materials from the demolished building.

$28$ Graded and filled the land in preparation for the construction for $$7,800.$

Mar. $14$ Paid $$36,000$ in architect fees for the building plans.

$31$ Paid the local municipality $$14,800$ for building permits.

Apr. $22$ Paid excavation costs for the new building of $$16,800.$

Sept. $26$ The construction of the building was completed. The full cost was $$728,000.$ Paid $$133,000$ cash and signed a

mortgage payable for the balance.

Sept. $30$ Purchased a one$-$year insurance policy for the building, $$3,800.$

Oct. $20$ Paved the parking lots, driveways, and sidewalks for $$41,000.$

Nov. $15$ Installed a fence for $$10,800.$

$($a$)$

Record the above transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If

no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries. Record

journal entries in the order presented in the problem.$)$