Problems: Set A ice P9.1A (LO 1), C Peete Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. tice Determine acquisition costs of land and building. Debit Excavation costs for new building 1. 23,000 Architect's fees on building plans 33,000 2. Full payment to building contractor 640,000 3- 4 Cost of real estate purchased as a plant site (land $255,000 and building $25,000) 280,000 29,000 Cost of parking lots and driveways 5. Accrued real estate taxes paid at time of purchase of land 3,170 6. 6,800 Installation cost of fences around property 7. 31,000 Cost of demolishing building to make land suitable for 8. construction of new building 6,400 Real estate taxes paid for the current year on land 9. $1,052.370 Credit Proceeds from salvage of demolished building 10. 12,000 ei