Prepare the journal entries to record the foregoing acquisitions. $($Record debits$$ first, then credits. Explanations are not$$ required.$)$

a$.$ In December $2023,$ EC paid $$1,100,000$ for land and$$ building, $$54,000$ for real estate commission and legal$$ fees, and $$22,000$ to have the existing building demolished. Prior to the$$ purchase, the land and building were appraised at $$800,000$ and $$300,000,$ respectively.

Prepare the entry to show the December $2023$ purchase.