A a; Problem I: (10 pts) Talley Corp, a local builder, is constructing a warehouse for one of its customers. Construction began on January 1, 2023, and is expected to last two years. The following expenditures were made related to this project in 2023: January 1: $500,000 May 31: 900,000 October 1: 700,000 Required: Rounding calculations to the nearest whole month and whole dollar, calculate their weighted-average expenditures for 2023. Answer: $ Problem III: (16 pts) On June 18, 2023, boil/Corp. purchased a building and land for $1,000,000. Lolipaid $400,000 down in cash and nanced the remaining $600,000 by issuing a 1-year, 9% term note. The Company has determined that the building and machinery have fair market values of $715,000 and $385,000, respectively. Required: Prepare the journal entry Lo should make to record the acquisition of the two assets