! Required Information (The following information applies to the questions displayed below.) Bridge City Consulting bought a building and the land on which it is located for $140,000 cash. The land is estimated to represent 70 percent of the purchase price. The company pald $10,000 for building renovations before it was ready for use. Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction flat Journal entry worksheet