Required information [The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,750,000 for land, Building 1, Building 2, and Land Improvements 1. Bullding 1 has no value and will be demolished. Building 2 will be an office and is appraised at $660,000. with a useful life of 20 years and a $75,000 salvage value. Land improvements 1 is valued at $510,000 and is expected to last another 17 years with no salvage value. The land is valued at $1,830,000. The company also incurs the following additional costs. Cost to demolish Bultding 1 Cost of additional land grading $343,400 Cost to construct Bullding 3 , having a useful life of 25 years and a $398,060 satvage vatue cost of new Land Improverents 2 , having a 20 -year useful life and no salvage value Required: 1. Allocate the costs incutred by Mitzu to the appropriate columns and total each column. (x) Answer is complete but not entirely correct. Journal entry worksheet Record the cost of the plant assets, paid in cash. Note: Enter debits before credits. Journal entry worksheet 4 Record the year-end adjusting entry for the depreciation expense of Building 2. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Building 3. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Land Improvements 1. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Land Improvements 2 . Note: Enter debits before credits