Allegro Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment.
| Abstract company’s fee for title search | 608 |
| Architect’s fees | 3,709 |
| Cash paid for land and dilapidated building thereon | 107,640 |
| Removal of old building | 23,400 |
| Less: Salvage | 6,435 | 16,965 |
| Interest on short-term loans during construction | 8,658 | |
| Excavation before construction for basement | 22,230 | |
| Machinery purchased (subject to 2% cash discount, which was not taken) | 76,050 | |
| Freight on machinery purchased | 1,568 | |
| Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered | 2,551 | |
| New building constructed (building construction took 6 months from date of purchase of land and old building) | 567,450 | |
| Assessment by city for drainage project | 1,872 | |
| Hauling charges for delivery of machinery from storage to new building | 725 | |
| Installation of machinery | 2,340 | |
| Trees, shrubs, and other landscaping after completion of building (permanent in nature) | 6,318 |
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.
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