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Prepare the journal entries to record the foregoing acquisitions. (Record debits first, then credits. Explanations...

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Accounting

Prepare the journal entries to record the foregoing acquisitions. (Record debits first, then credits. Explanations are not required.)
a. In December 2023, EC paid $1,100,000 for land and building, $54,000 for real estate commission and legal fees, and $22,000 to have the existing building demolished. Prior to the purchase, the land and building were appraised at $800,000 and $300,000, respectively.
Prepare the entry to show the December 2023 purchase.
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