In 2024, Crane 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 $412,000. paying $92,000 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 $402,000 and $42,000, respectidaly. The old building will be demolished and anew one built. 16 Paid $8,200 for legal fees on the real estate purcharie. 31 Paid $50,000 to demolish the old building to make rom for the now plant. Feb. 13 Received $9.200 for residuat materials from the denolished building. 28 Graded and filled the land in preparation for the construction for $8,200 Mar. 14 Paid $37,000 in architect fees for the building plans 31 Paid the local municipalicy $15,200 for bualding permiss Apr. 22 Pald ecavation sosts for the new building of $17260. sept.26 The construction of the building was completed the follicost was $732,000 paid $137.000 cash and signed a mortgage piyable for the balance Segt. 30 Purchased aonevtar imsurance policy for the buitcing 54200 . Feb. 13 Received $9,200 for residual materials from the demolished building. 28 Graded and filled the land in preparation for the construction for $8,200. Mar, 14 Paid $37,000 in architect fees for the building plans. 31. Paid the focal municipality $15,200 for bullding permits. Apr.22 Paidexcavation costs for the new building of $17.200. Sept: 26 The construction of the buildirig was completed. The full cost was $7,32,000, Paid $137,000Cash and signed a mortgage payable for the balace. Sept 30 Purchased a one-year insuraoce policy for the building 54.200 . Oct.20 Paved the paking fots driveways, and sidewalks for 545.000 . Now. 15 Installed a ferice for $11200. Record the above transactions. (Credit account titles are automotically indented when the omount 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.) Question 5 of 8 Determine the cost of the land, land improvements, and building that will appear on Crane's December 31,2024, balance sheet