Business, 04.12.2020 02:00 sheyenne143

Cala Manufacturing purchases land for $387,000 as part of its plans to build a new plant. The company pays $40,200 to tear down an old building on the lot and $59,426 to fill and level the lot. It also pays construction costs $1,778,500 for the new building and
$112,264 for lighting and paving a parking area.
Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.
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®
General Journal
No
IA
Transaction
1
Debit
Credit
Land
Land improvements
Building
Cash
387,000
59,426
1,778,500

Answers: 3

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Cala Manufacturing purchases land for $387,000 as part of its plans to build a new plant. The compan...

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