Solve the following problems 1. The following expenditures and receipts are relates to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses. a Money borrowed to paid building contractor (signed a note) $(275,000) b. Payment for construction from note proceeds 275,000 c. Cost of land fill and clearing 8,000 d Delinquent real state taxes on property assumed by purchases 7,000 e Premium of 6 month insurance policy during construction 6,000 f Refund of 1 month insurance premium because construction completed early (1,000) g Architect's fee on building 22,000 h. Cost of real state purchased as a plant site (land $200,000 and building $50,000) 250,000 i Commission fee paid to real state agency 9.000 Installation of fences around property 4.000 k Cost of razing and removing building 11,000 | Proceeds from salvage of demolished building (5,000) m. Interest paid during construction on money borrowed for construction 13,000 n Cost of parking lots and driveways 19,000 0. Cost of trees and shrubbery planted (permanent in nature) 14,000 P. Excavation cost for new building 3,000 Instructions: Identify each item by letter and list the items in columnar form, as shown below. All receipts amounts should be reported in parentheses. For any amounts entered in the other accounts column also indicate the account title. Land Improvement Other Accounts Item Land Building