Determine the amounts that should be debited to land, two buildings, and machinery and equipment. Assume the benefits of capitalizing insurance during construction exceed the cost of inflammation. Indicate how any cost not debited to these accounts should be recorded

Part 1 E10-5 (L01,3) (Treatment of Various Costs)-Ben Sisko Supply Company, a newly formed corporation, incurred the follow- ing expenditures related to Land, to Buildings, and to Machinery and Equipment. Abstract company's fee for title search Architect's fees $ 520 Cash paid for land and dilapidated building thereon 3,170 Removal of old building 87,000 $20,000 Less: Salvage 5,500 14,500 Interest on short-term loans during construction 7,400 Excavation before construction for basement 19,000 Machinery purchased (subject to 2% cash discount, which was not taken) Freight on machinery purchased 55,000 1,340 Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 2,180 New building constructed (building construction took 6 months from date of purchase of land and old building) 485,000 Assessment by city for drainage project 1,600 Hauling charges for delivery of machinery from storage to new building 620 Installation of machinery 2,000 Trees, shrubs, and other landscaping after completion of building (permanent in nature) 5,400 Instructions Determine the amounts that should be debited to Land, to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation. Indicate how any costs not debited to these accounts should be recorded