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In January, 2020, Harmony Inc. has the following cash expenditures related to acquiring a plot of land on which it plans to build a warehouse.
In January, 2020, Harmony Inc. has the following cash expenditures related to acquiring a plot of land on which it plans to build a warehouse. January 1: $55,000 to the seller of the land. January 2: $1,250 to an attorney for legal services related to finalizing the land purchase. January 2: $12,000 to the real estate broker who found the land and facilitated the purchase. January 3: $30,000 to a crew that demolishes the existing building and hauls away the debris. January 3: $1,800 to an insurance broker to insure the land for 2020. January 5: $23,000 to a paving company to install a driveway on the land. January 6; $3,500 to a landscaping company for privacy hedges. Base on the information above, indicate the total amount that should be debited to each of the following accounts during the month of January. Enter your answers in whole dollars without the $ sign. For some accounts, the amount may be 0 (zero). 1. Land 2. Land Improvements 3. Land Acquisition Expense 4. Building 5. Prepaid Insurance 6. Insurance Expense
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