After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a
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Question:
After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building was located. The negotiated purchase price for this real estate was $ for the lot plus $ for the building. The company paid $ to have the old building torn down and $ for levelling the lot. Finally, it paid $ in construction costs, which included the cost of a new building plus $ for lighting and paving a parking lot next to the building.
Present a single journal entry to record the costs incurred by Kallisto, all of which were paid in cash assume a date of March for your entry
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