xercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $288,000 for the lot plus $183,000 for the old building. The company pays $35,600 to tear down the old building and $52,626 to fill and level the lot. It also pays new building and $90,058 for lighting and paving a parking area next to the building. a total of $1,516,758 in construction costs-this amount consists of $1,426,700 for the Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. Journal entry worksheet Record the total costs of the plant assets. Note: Enter debits before credits. Debit Credit Transaction ournal Record entry 13 iii Next >