Bridge city consulting bought a building and the land on which it is located for $182,000 cash. the land is estimated to represent 70 percent of the purchase price. the company paid $22,000 for building renovations before it was ready for use. required: prepare the journal entry to record all expenditures. assume that all transactions were for cash and they occurred at the start of the year. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)