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Please help me solve Cala Manufacturing purchases land for $445,000 as part of its plans to build a new plant. The company pays $29,300 to
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Cala Manufacturing purchases land for $445,000 as part of its plans to build a new plant. The company pays $29,300 to tear down an old building on the lot and $43,313 to fill and level the lot. It also pays construction costs of $1,680,100 for the new building and $106,053 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 creditsStep by Step Solution
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