a. b. C. d. 15,000 e. f. 10,000 g. 3,400* h. 18,000 Allocating Payments and Receipts to Fixed Asset Accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by an asterisk. Fee paid to attorney for title search $3,600 Cost of real estate acquired as a plant site: Land 720,000 Building 60,000 Finder's fee paid to real estate agency 23,400 Delinquent real estate taxes on property, assumed by purchaser Architect's and engineer's fees for plans and supervision 75,000 Cost of removing building purchased with land in (b) Proceeds from sale of salvage materials from old building Cost of filling and grading land Premium on one-year insurance policy during construction j. Money borrowed to pay building contractor 800,000 Special assessment paid to city for extension of water main to the property I. Cost of repairing windstorm damage during construction 3,000 m. Cost of repairing vandalism damage during construction 2,000 Cost of trees and shrubbery planted 14,000 Cost of paving parking lot to be used by customers Interest incurred on building loan during construction 40,000 Proceeds from insurance company for windstorm and vandalism damage 4,500* Payment to building contractor for new building 800,000 Refund of premium on insurance policy (i) canceled after 10 months i. 8,400 k. 13,400 0. 21,600 P. 4. S. 1,400* Required: 1. Assign each payment and receipt to Land (unlimited life), Land Improvements (limited life), Building, or Other Accounts. Choose the correct account from the dropdown list for each letter and enter the appropriate amount. Enter receipts as negative amounts using the minus sign. Item Account Amount a. b. c. d. Land e. Other Accounts f. 9. h. i. j. k. I. m. n. 0. p. 9. s. 2. Determine the amount debited to Land, Land Improvements, and Building. Land Land Improvements Building