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Please help with the wrong answer. Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $279,000 as part of its plans
Please help with the wrong answer.
Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $279,000 as part of its plans to build a new plant. The company pays $27,800 to tear down an old building on the lot and $41,096 to fill and level the lot. It also pays construction costs $1,636,500 for the new building and $103,301 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. X Answer is not complete. No Transaction General Journal Debit Credit A 1 Land Land improvements Building Repairs expense Loss from fire 279,000 X 103,301 1,636,500 27,800 41,096 Cash 2,087,697 XStep by Step Solution
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