Screen Shot 2020-07-24 at 9.52.58 PM Search View Zoom Share Search Selection Highlight Rotate Markup Screen Shot 2020-07-24 at 9.52.58 PM Problem 7-18 Determine the acquisition cost of land and building (L07-1) The Italian Pizza Company purchased land as a factory site for $70,000. Prior to construction of the new building, the land had to be cleared of trees and brush. Construction costs incurred during the first year are listed below: Land clearing costs Sale of firewood to a worker Architect fees (for new building) Title investigation of land Property taxes on land (for the first year) Building construction costs $ 3,000 (600) 10,000 1,500 1,000 200,000 Required: Determine the amounts that the company should record in the land and the new building accounts. (Amounts to be deducted should be indicated by a minus sign.) Land Building cl enc > Totals concongamp external browser O&launchurt Great