The Italian Pizza Company purchased land as a factory site for $71,000. 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 $ 3.109 (590) 11,000 1,600 1. 100 210,000 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 Architect fees (for new building) Building construction costs Land clearing costs Property taxes on land The Italian Pizza Company purchased land as a factory site for $71,000. 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 $ 3,100 (598) 11,000 1,600 1,100 210.000 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 Land clearing costs Property taxes on land Purchase price of land Sale of firewood to a worker Title investigation of land