Question 4--/19 view policies current attempt in progress splish 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 $962 architect’s fees 5,865 cash paid for land and dilapidated building thereon 160,950 removal of old building $37,000 less: salvage 10,175 26,825 interest on short-term loans during construction 13,690 excavation before construction for basement 35,150 machinery purchased (subject to 2% cash discount, which was not taken) 101,750 freight on machinery purchased 2,479 storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 4,033 new building constructed (building construction took 6 months from date of purchase of land and old building) 897,250 assessment by city for drainage project 2,960 hauling charges for delivery of machinery from storage to new building 1,147 installation of machinery 3,700 trees, shrubs, and other landscaping after completion of building (permanent in nature) 9,990 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. company uses net method to record discount.