A company needed a new building. It found a suitable location with an existing old building on the land. The company reached an agreement to buy the land and the building for $960,000 cash. The old building was demolished to make way for the needed new building. Following is information regarding the demolition of the old building and construction of the new one: 
Prepare a single journal entry to record the above costs assuming all transactions are paid in cash.
Definitions:
Heterosexuality
A sexual orientation characterized by a romantic or sexual attraction to individuals of the opposite sex.
Masturbation
Sexual self-stimulation.
Teenage Pregnancy
A term used to describe pregnancies occurring in individuals who are in their teenage years, typically defined as ages 13 to 19.
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