Fraser Manufacturing purchased land next to its factory to be used as a parking lot. The following expenditures were incurred by the company: purchase price, $300,000; broker's fees, $24,000; title search and other fees, $2,200; demolition of a cottage on the property, $8,000; general grading of property, $4,200; paving parking lots, $40,000; lighting for parking lots, $32,000; and signs for parking lots, $6,400. Determine the amounts that should be debited to the Land account and the Land Improvements account.