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| Your answer is partially correct. Try again. The following expenditures and receipts are related to land, land improvements, and buildings that were acquired for use in a business enterprise. The receipts are in parentheses. 1. Money borrowed to pay a building contractor (signed a note), ($274,620) 2. A payment for building construction from note proceeds, $274,620 3. The cost of landfill and clearing, $7,970 4. Delinquent real estate taxes on property, assumed by the purchaser, $6,790 5. A premium on a six-month insurance policy during construction, $5,790 6. Refund of one month's insurance premium because construction was completed early, ($980) 7. An architect's fee on a building, $21,690 8. The cost of real estate purchased as a plant site (land $199,700, building $49,925), $249,625 9. A fee paid to a real estate agency for finding the property, $8,580 relating to the land purchase (see 8) 10. The installation of fences around a property, $3,930 11. The cost of razing (demolishing) and removing the building on the plant site (see item 8), $10,800 12. Proceeds from the salvage of the demolished building, ($4,730) 13. Interest paid during construction on money borrowed for construction, $12,640 14. The cost of parking lots and driveways, $18,890 15. The cost of trees that were planted (non-permanent in nature, to be replaced every 20 years), $13,780 16. Excavation costs for new building, $2,670 17. The recoverable GST on the excavation cost, $310 Identify each item by number and list the items in columnar form, as shown below. Using the column headings that follow, enter the amount under the column heading where it would be recorded. For any amounts that should be entered in the Other Accounts column, also indicate the account title. (Show the receipts in using either a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000). If there is no entry in other accounts, select "No Entry" for the account titles.) Land Improvements Item Land Building Other Accounts 1. -274,620 T Notes Payable 2. 274,620 No Entry 3. 7,970 No Entry 4. 6,790 No Entry 5. 5,790 No Entry 6. -980 No Entry 7. 21,690 No Entry 8. 249,625 No Entry 9. 8,580 No Entry 10. 3,930 No Entry 11. 10,800 No Entry 12. -4,730 No Entry 13. 12,640 No Entry M 14. 18,890 No Entry 15. 13,780 No Entry 16. 2,670 No Entry 17. 310 inteil Interest Expense Interest Income Interest Payable Interest Receivable SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT