i know the solution for number 1 I only need number 2 where it says prepar journal entries at the very end. I DON'T NEED NUMBER ONE ONLY NUMBER TWO. I post this question couple times and they keep providing me with the solution for number 1 while I'm asking only for number 2. So if you don't know the answer for number 2 please leave it to someone else instead of answering the wrong one.

On January 1, 2019 Stuff Inc. acquired land with a very old building on it to build a new plant. They made a $25,000 down payment and signed a non-interest bearing note for $300,000 that is due with 2 instalment payments of $150,000 each at the end of the next 2 years. An interest rate of 10% is implicit in the purchase price. On January 1, 2019 they paid their lawyer \$1,300 to perform a title search on the property On January 15, 2019 they paid a local demolition crew $12.000 to demolish the existing building. Stuff Inc. was able to recover $5,800 from materials salvaged. They began construction on February 1. 2019 and construction was completed by August 1. 2019. They had everything ready to start operations on August 1, 2019. On March 1, 2019 Machinery was purchased for $95,000 to manufacture "stuff The Machinery was purchased with discount terms 2/10,30. There was an additional delivery fee of $500. On January 20 , the Municipality paid Stuff Inc. a grant of $25,000 to help with the construction. Required: 1. Prepare a spreadsheet with following columns. Assume company follows IFRS. DESCRIPTION LAND BUILDING M MACHINE OTHER Determine the amounts that should be induded in the Land, Building, and Machinery accounts. If the cost does not fall under one of these accounts, indicate the account it should be debited to in the "other" category. Show calculations. (19 marks) 2. Assume on January 1, 2021 they decided to trade their Machine for a NEW machine. As part of this trade, the company (Stuff inc.) also paid 510,600 in cash. Assume that the old madine had a market value of $55,000 on January 1, 2021 (the date of the tradel The NEW machine has a market value of 568.650. Double decining balance Depreciation method wos used for the old machine assuming an onginal useful ifle of 5 years show al caculatons inctuding Depreciation of the old machine, Prepare the journal entry on January 1, 2021 to record the wrade (6 marks)