Cala Manufacturing purchases land for $401,000 as part of its plans to build a new plant. The company pays $39,000 to tear down an old building on the lot and $57,652 to fill and level the lot. It also pays construction costs $1,598,800 for the new building and $100,921 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