Problem 7-1 Sandhill Co. was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Expenditures 1. Excavation costs for new building $13,520 2 Architect's fees on building plans 39,500 3. Full payment to building contractor 647,600 Cost of real estate purchased as a plant site (land $258,300 and building $30,800) 289,100 5. Cost of parking lots and driveways 28,990 6. Accrued real estate taxes paid at time of purchase of real estate 2,640 7. Installation cost of fences around property 8,750 8. Cost of demolishing building to make land suitable for construction of new building 29,100 9. Real estate taxes paid for the current year on land 7,600 $1,066,800 Receipts 10. Proceeds from salvage of demolished building $ 11,500 Analyze the transactions using the following table column headings. Enter the amounts in the appropriate columns. For amounts in the Other Accounts column, also indicate the account title. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Item Land Other Accounts Amounts Account Title Building 1 $ $ 2 3 5 6 7 8 9 10 Click if you would like to Show Work for this question: Open Show Work