On January 1, Mitzu Company pays a lump-sum amount of $2,700,000 for land, Building 1, Building 2, and Land Improvements 1. Bullding 1 has no value and will be demolished. Building 2 will be an office and is appraised at $708,000, with a useful life of 20 years and a $75,000 salvage value. Land improvements 1 is valued at $501,500 and is expected to last another 17 years with no salvage value. The land is valued at $1,740,500. The company also incurs the following additional costs. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1