Pink Lady Co Needed a New Building,and Found a Suitable

Essay

Pink Lady Co needed a new building,and found a suitable piece of land which had an old building on it.Pink Lady made an agreement to buy the land and the building for $960,000 cash.The old building was demolished to make way for the new building.
The following is information regarding the demolishing of the old building and construction of the new one: Prepare a single journal entry to record the above costs (assume all paid cash).