Sunland Landscaping began construction of a new plant on December 1, 2025. On this date, the company purchased a parcel of land for $237,500 in cash. In addition, it paid $3,400 in surveying costs and $6,800 for a title insurance policy. An old dwelling on the premises was demolished at a cost of $5,100, with $1,700 being received from the sale of materials. Architectural plans were also formalized on December 1, 2025, when the architect was paid $51,000. The necessary building permits costing $5.100 were obtained from the city and paid for on December 1 as well. The excavation work began during the first week in December with payments made to the contractor in 2026 as follows. Date of Payment Amount of Payment March 1 May 1 July 1 $408,000 561,000 102,000 The building was completed on July 1, 2026. To finance construction of this plant, Sunland borrowed $1,020,000 from the bank on December 1, 2025. Sunland had no other borrowings. The $1,020,000 was a 10-year loan bearing interest at 10%. Compute the balance in each of the following accounts at December 31, 2025, and December 31, 2026.