P7-1 Ob).1 Land, 5473,500 5,000 12.000 Allocate payments and receipts to fixed asset accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by an asterisk a Architects and engineers fees for plans and supervision... S.80,000 b. Cost of timing and grading landi. 30.000 Cost of removing building purchased with land in tel. 10,000 d. Cost of paving parking lot to be used by customers.. 25,000 Cost of real estate acquired as a plant site. Land (5375,000) and Building (525,000)... 400.000 Cost of repairing windstorm damage during construction 9. Cost of repairing vandalism damage during construction 1.800 h. Cost of trees and shrubbery planted. Delinquent real estate taxes on property, assumed by purchaser 20.000 Fee paid to attorney for title search 3,000 Finder's fee paid to real estate agency Interest incurred on building loan during construction.. 40.000 m. Money borrowed to pay building contractor 775,000" n. Payment to building contractor for new building... 750,000 o Proceeds from insurance company for windstorm and vandalism damage. 3.000 p. Premium on one-year insurance policy during construction 7,500 9. Proceeds from sale of salvage materials from old building 4,000 Refund of premium on insurance policy (p) canceled after 10 months 1.250" S. Special assessment paid to city for extension of water main to the property 10,500 4,000 Instructions