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Journalizing the purchase of plant assets Cala Manufacturing purchases land for $287,000 as part of its plans to build a new plant. The company pays
Journalizing the purchase of plant assets
Cala Manufacturing purchases land for $287,000 as part of its plans to build a new plant. The company pays $25,100 to tear down an old building on the lot and $37,104 to fill and level the lot. It also pays construction costs of $1,730,100 for the new building and $109,209 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. Journal entry worksheet Note: Enter debits before credits Step by Step Solution
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