The following account balances were included in Bromley Companys balance sheet on December 31, 2018:

Land	$100,000
Land improvements	20,000
Buildings	300,000
Machinery and Equipment	500,000

During 2019, the following transactions occurred:

Jan. 1	Land was acquired for $70,000 for a future building site. Commissions of $4,000 were paid to a real estate agent.
Feb. 1	A factory and land were acquired from Kent Development Company by issuing 20,000 shares of $3 par common stock. At that time, the stock was selling for $10 per share on the New York Stock Exchange. The independently appraised values of the land and the factory were $60,000 and $180,000, respectively.
Mar. 1	Equipment was acquired at a cost of $120,000. In addition, sales tax, freight costs, and installation costs were $7,000, $10,000, and $16,000, respectively. During installation, the equipment was damaged, and $2,000 was spent for repairs.
Apr. 1	A new parking lot was installed at a cost of $30,000.
Aug. 1	Half the land purchased in Item 1 was prepared as a building site. Costs of $26,000 were incurred to clear the land, and the timber recovered was sold for $3,000. A new building was built for $60,000. Architects fees relating to construction were $18,000, and imputed interest on equity funds used during construction was $15,000. No debt is outstanding.
Sept. 1	Costs of $20,000 were incurred to improve some leased office space. The lease will terminate in 2021 and is not expected to be renewed.
Oct. 1	A group of new machines was purchased under a royalty agreement that provides for payment of annual royalties based on units produced. The invoice price of the machines was $30,000, freight costs were $2,000.
Dec. 31	Royalty payments on the new machines for 2019 totalled $12,000.

Required:

Prepare journal entries to record all the preceding events. Unless otherwise indicated, assume the company makes all payments in cash

Prepare journal entries to record all the events that occurred during 2019. Unless otherwise indicated, assume the company makes all payments in cash.

General Journal Instructions

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GENERAL JOURNAL

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