Problem 10-6blue landscaping began construction of a new plant on december 1, 2017. on this date, the company purchased a parcel of land for $150,000 in cash. in addition, it paid $2,400 in surveying costs and $3,840 for a title insurance policy. an old dwelling on the premises was demolished at a cost of $3,360, with $1,200 being received from the sale of materials. architectural plans were also formalized on december 1, 2017, when the architect was paid $36,000. the necessary building permits costing $3,360 were obtained from the city and paid for on december 1 as well. the excavation work began during the first week in december with payments made to the contractor in 2018 as follows. date of payment amount of paymentmarch 1 $ 262,800may 1 333,600july 1 63,600the building was completed on july 1, 2018.to finance construction of this plant, blue borrowed $603,600 from the bank on december 1, 2017. blue had no other borrowings. the $603,600 was a 10-year loan bearing interest at 10%.compute the balance in each of the following accounts at december 31, 2017, and december 31, 2018. (round answers to 0 decimal places, e. g. 5,275.)december 31, 2017 december 31, 2018(a) balance in land account (b) balance in building (c) balance in interest expense