Swifty Corporation purchased land for a new parking lot for $120000. The paving cost $175000 and the lights to illuminate the new parking area cost $65000. Which of the following statements is true with respect to these additions? $240000 should be debited to Land Improvements. $295000 should be debited to the Land account. $360000 should be debited to the Land account. $360000 should be debited to Land Improvements