Create four new Fixed asset accounts: Category type: Fixed Assets, detail type: Building and Accumulated Depreciation (where Appropriate), Account Names: Original Cost (a sub-account of building) and Accumulated Depreciation ( a sub-account of building) and Land with category type fixed asset, detail type:Land

Add the purchase of land and a warehouse building from deluxe properties, check:1002, amount: $10,000, as a down payment on land $15,000 and a building $35,000. The balance was paid by signing a long-term note for $40,000 to the Bank of San Diego (a new Vendor).