Problem 1 Required: The following payments and receipts are related to land, land improvements, and buildings acquired for use in a business. Next to the item put an L for Land, Ll for Land Improvements, and B for Building. a. Cost of real estate purchased for a future plant site. Cost of demolishing an old building on the site. Delinquent real estate taxes on the property, assumed by purchaser. Architect's fees on building plans. Fee paid to attorney for title search. Commission fee paid to real estate agency. Cost of land fill and clearing. Excavation costs for new building. Cost of trees and shrubbery planted (permanent in nature). Interest paid during construction on money borrowed for construction. Cost of parking lots and driveways. Installation of fences around the property. Full payment to building contractor. . . - E m