In 2021, Sunland Company had the following transactions related to the purchase of a property. All transactions were for cash unless otherwise stated. Jan. 12 Purchased real estate for a future plant site for $418,000, paying $98,000 cash and signing a note payable for the balance. On the 16 Paid $8,800 for legal fees on the real estate purchase. 31 Paid $65,000 to demolish the old building to make room for the new plant. Feb. 13 Received $9,800 for residual materials from the demolished building. 28 Graded and filled the land in preparation for the construction for $8,800. Mar. 14 Paid $38,500 in architect fees for the building plans. 31 Paid the local municipality $15,800 for building permits. Apr. 22 Paid excavation costs for the new building of $17,800. Sept. 26 The construction of the building was completed. The full cost was $738,000. Paid $143,000 cash and signed a mortgage payablet Sept. 30 Purchased a one-year insurance policy for the building, $4,800. Oct. 20 Paved the parking lots, driveways, and sidewalks for $51.000. Nov. 15 Installed a fence for $11.800. In 2021, Sunland Company had the following transactions related to the purchase of a property. All transactions were for cash unless otherwise stated. 18. The fair values of the land and building were $408,000 and $48,000, respectively. The old building will be demolished and a new one built In 2021, Sunland Company had the following transactions related to the purchase of a property. All transactions were for cash unless otherwise stated. Jan. 12 Purchased real estate for a future plant site for $418,000, paying $98,000 cash and signing a note payable for the balance. On the 16 Paid $8,800 for legal fees on the real estate purchase. 31 Paid $65,000 to demolish the old building to make room for the new plant. Feb. 13 Received $9,800 for residual materials from the demolished building. 28 Graded and filled the land in preparation for the construction for $8,800. Mar. 14 Paid $38,500 in architect fees for the building plans. 31 Paid the local municipality $15,800 for building permits. Apr. 22 Paid excavation costs for the new building of $17,800. Sept. 26 The construction of the building was completed. The full cost was $738,000. Paid $143,000 cash and signed a mortgage payablet Sept. 30 Purchased a one-year insurance policy for the building, $4,800. Oct. 20 Paved the parking lots, driveways, and sidewalks for $51.000. Nov. 15 Installed a fence for $11.800. In 2021, Sunland Company had the following transactions related to the purchase of a property. All transactions were for cash unless otherwise stated. 18. The fair values of the land and building were $408,000 and $48,000, respectively. The old building will be demolished and a new one built