View transaction list Journal entry worksheet 1 Record the purchase of the land.. Note: Enter debits before credits. Fresh Veggies, Incorporated (FVI), purchases land and a warehouse for $560,000. In addition to the purchase price, FVI makes the following expenditures related to the acquisition: broker's commission, $36,000; title insurance, $2,600; and miscellaneous closing costs, $7,200. The warehouse is immediately demolished at a cost of $36,000 in anticipation of building a new warehouse. Determine the cost of the land and record the purchase (assuming cash was paid for all expenditures). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)