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Cerner Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $186,000 for the lot plus $81,000 for the old building. The company pays $44,900 to tear down the old building and $66,374 to fill and level the lot. It also pays a total of $1,857,382 in construction costs"this amount consists of $1,747,100 for the new building and $110,282 for lighting and paving a parking area next to the building.

Reference no: EM13524405

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Wnat journal entries : The company pays $44,900 to tear down the old building and $66,374 to fill and level the lot. It also pays a total of $1,857,382 in construction costs"this amount consists of $1,747,100 for the new building and $110,282 for lighting and paving a p..
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