On March 31, 2020, Capital Investment Advisers paid $4,640,000 for land with two buildings on it. The plan was to demolish Building 1 and build a new store (Building 3) in its place. Building 2 was to be used as a company office and was appraised at a value of $936,000. A lighted parking lot near Building 2 had improvements (Land Improvements 1) valued at $608,400. Without considering the buildings or improvements, the tract of land was estimated to have a value of $3,135,600. Capital incurred the following additional costs: $ 79,160 275, 520 3.2.400 Cost to demolish Building 1 Cost of additional landscaping Cost to construct new building (Building 3) Cost of new land improvements near Building 2 (Land Improvements 2) Required: 1. Allocate the costs incurred by Capital to the appropriate columns and total each column Building 3 Land Improvements 1 Land Improvements 2 Building 2 Land Purchase price Demolition Landscaping New building New improvements Totals $ $ 0 $ 0 $ $ 2. Prepare a single journal entry dated March 31, 2020, to record all the incurred costs, assuming they were paid in cash on that date View transaction list Journal entry worksheet