Romano Lakes Resort reported the following on its balance sheet at December 31, 2010:
Property, plant, and equipment, at cost:
Land......................................................... $ 146,000
Buildings.................................................. 709,000
Less: Accumulated depreciation............... (342,000)
Equipment................................................ 405,000
Less: Accumulated depreciation............... (265,000)
In early July 2011, the resort expanded operations and purchased additional equipment at a cost of $102,000. The company depreciates buildings by the straight-line method over 20 years with residual value of $89,000. Due to obsolescence, the equipment has a useful life of only 10 years and is being depreciated by the double-declining-balance method with zero residual value.

Requirements
1. Journalize Romano Lakes Resort s plant asset purchase and depreciation transactions for 2011.
2. Report plant assets on the December 31, 2011, balance sheet.