Answer the following:

IThe following information applies to the questions displayed below/ Bridge City Consulting bought a building and the land on which it is located for $200.000 cash. The land is estimated to represent 60 percent of the purchase price The company paid $30,000 for bullding renovations before It was ready for use. Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year (If no entry is required for a transaction/event, select No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record all expenditures for the land and buildings assurning all transactions were paid for with cash and occurred at the start of the year Note: Enter debits before credits. ransaction General Journal De Credit Record entry Clear entry View general journal