Colletta Manufacturing purchased land next to its factory to be used as a parking lot. The expenditures incurred by company were as follows: purchased price, $600,000; broker’s fees, $48,000; titles search and other fees, $4,400; demolition of a cottage on the property, $16,000; general grading of property, $8,400; paving parking lots, $800,000; lighting for parking lots, $64,000; and signs for parking lots, $12,800. Determine the amounts that should be debited to the land account and the Land Improvements account.