Cala Manufacturing purchases land for $390,000 as part of its plans to build...
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Accounting
Cala Manufacturing purchases land for $ as part of its plans to build a new plant. The company pays $ to tear down an old building on the lot and $ to fill and level the lot. It also pays construction costs of $ for the new building and $ 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.
Exercise
Recording costs of assets C
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