lew Policies Current Attempt in Progress Garrison Company was organized on January 1. During the first year of operations, the following expenditures and receipts were recorded in random order in the account, Land. Debits 1. Cost of real estate purchased as a plant site (and and building). 2. Accrued real estate taxes paid at the time of the purchase of the real estate. 3. Cost of demolishing building to make land suitable for construction of a new building, 4. Architect's fees on building plans. 5. Excavation costs for new building 6. Cost of filling and grading the land. 7. Insurance and taxes during construction of building, 8. Cost of repairs to building under construction caused by a small fire. 9. Interest paid during the year, of which $54,000 pertains to the construction period. 10. Full payment to building contractor 11. Cost of parking lots and driveways. 12. Real estate taxes paid for the current year on the land. Total Debits Credits 13. Insurance proceeds for fire damage 14. Proceeds from salvage of demolished building, Total Credits $250,000 4,000 15,000 14,000 24,000 5,000 6,000 7.000 64.000 780,000 46,000 4,000 $1.219.000 $3,000 3,500 $6.500 Analyze the foregoing transactions using the following tabular arrangement. Insert the amounts in the appropriate columns and select appropriate account title for transactions falling unde number .. 45 or parentheses es. 1451. Do not enter Oleave cells blank when there is no entry/transaction) Land Buildings Other Account Title Analyze the foregoing transactions using the following tabular arrangement. Insert the amounts in the appropriate columns and select appropriate account title for transactions falling under number eg. 45 or parenthesese..(45). Do not enter 0, leave cells blank when there is no entry/transaction.) Item Land Buildings Other Account Title Totals