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Cala Manufacturing purchases land for $359,000 as part of its plans to build a new plant. The company pays $25,100 to tear do
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Given that: S.NO 1 GENERAL JOURNAL Debit Credit $ $ Land 421,204 Land improvements 108,237 Building 1,714,700 Cash 2,244,141Explanation: cost of land=purchase price of land+Demolition costs for old building+cost to fill and level lot =359000+25100+3

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