The Madison Sign Company purchased land as a factory site for $75,000. Prior to construction of the new building, the land had to be cleared of trees and brushConstruction costs incurred during the first year are listed below

The Madison Sign Company purchased land as a factory site for $75.000. 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: Required: Determine the amounts that the company should record in the Land and the Building accounts. (Amounts to be deducted should be Indlcoted by a minus sign.)