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Please help thanks. During 2021, Ming's Book Store paid $485,000 for land and built a store in Georgetown, Washington D.C. Priot to construction, the cily

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During 2021, Ming's Book Store paid $485,000 for land and built a store in Georgetown, Washington D.C. Priot to construction, the cily of Georgetown charged Ming's $1,500 for a building permit, which Ming's paid. Ming's also paid $15,500 for architect's fees. The construction cost of $695,000 was fnanced by a long-term note payable, with interest costs of $28,920 paid at the completion of the project. The bulding was completed June 30, 2021. Ming's depreciates the building using the straight-Ine method over 35 years, with estimated residual value of $338,000. Read the reguirements. Requirement 1. Joumalize transacions for the folowing (explanations are not required): a. Purchase of the land, b. All the costs chargeable to the bulding in a single entry, and c. Depreciabion on the buiding for 2021, (Record debits first, then credits, Exclude explanations from ary foumal entries.) a. Journalize the purchase of the land. Requirements 1. Journalize transactions for the following (explanations are not required): a. Purchase of the land b. All the costs chargeable to the building in a single entry c. Depreciation on the building for 2021 2. Repert Ming's plant assets on the company's balance sheet at December 31, 2021. 3. What will Ming's income statement for the year ended December 31, 2021, feport for these facts

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