QUESTION 2 (15 MARKS) Recording Costs of Assets Reebok purchased land for $390,000 as part of its plans to build a new plant. The company pays $33,500 to tear down an old building on the ot the and $47,000 to fill and level the lot. It also pays construction costs of $1,452,200 for the new building and $87.800 for lighting and paving a parking area Prepare a single Journal entry to record these costs incurred by Reebok, all of which are paid in cash. QUESTION 2 (15 MARKS) Recording Costs of Assets Reebok purchased land for $390,000 as part of its plans to build a new plant. The company pays $33,500 to tear down an old building on the lot the end 547,000 to fill and level the lot. It also pays construction cost of $1,452,200 for the new building and $87,800 for lighting and paving a parking area Prepare a single Journal entry to record these costs incurred by Reebok, all of which are paid In cash