Question: A company needed a new building. It found a sultable location with an existing old buliding on the land. The company reached an agreement to

A company needed a new building. It found a sultable location with an existing old buliding on the land. The company reached an agreement to buy the land and the old bullding for $919,000 cash. The old building was demolished to make way for the needed new building. Following is information regarding the demolition of the old building and construction of the now one. Prepare a single journal entry to record the above costs assuming all transactions are paid in cash

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