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Accounting Lecture1 Essay Preview: Accounting Lecture1 Report this essay Ch01PE 1–1A$345,000. Under the cost concept, the land should be recorded at the costto Integrity Repair Service.PE 1–3A(2) Asset (Cash) decreases by $3,750;Liability (Accounts Payable) decreases by $3,750.(3) Asset (Accounts Receivable) increases by $22,400;Revenue (Delivery Service Fees) increases by $22,400.(4) Asset (Cash) increases by $11,300;Asset (Accounts.