In January 2011, Keona Co. pays $2,700,000 for a tract of land with land improvements (Land Improvements 1) and a building (Building 1). Building 1 is appraised at S810,000, with a useful life of 20 years and an $75,000 salvage value. A lighted parking lot near Building 1 has improvements (Land Improvements 1) valued at $450,000 that are expected to last another 15 years with no salvage value. The tract of land is valued at $1,740,000. The company also incurs the following additional costs: Cost to purchase land, Land Improvement 1 and Building 1 $ 2,700,000 Cost to construct new building (Building 2), having a useful life of 25 years and a $400,000 salvage value 2,242,000 Cost of new land improvements (Land Improvements 2) near Building 2 having a 20-year useful life and no salvage value 178,000 Total costs $ 5,120,000 Allocate the costs incurred by Keona to the appropriate columns and total each column. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1,2011 Using the straight-line method, prepare the December 31 adjusting entries to record depreciation for the 12 months of 2011 when these assets were in use