At December $31,2025,$ Blue Corporation reported the following plant assets.

Land

Buildings

Less: Accumulated depreciation$-$buildings

Equipment

Less: Accumulated depreciation$-$equipment

Total plant assets

$$4,548,000$

During $2026,$ the following selected cash transactions occurred.

Apr. $1$ Purchased land for $$3,335,200.$

May $1$ Sold equipment that cost $$909,600$ when purchased on January $1,2019.$ The equipment was sold for $$257,720.$

June $1$ Sold land for $$2,425,600.$ The land cost $$1,516,000.$

July $1$ Purchased equipment for $$1,667,600.$

Dec. $31$ Retired equipment that cost $$1,061,200$ when purchased on December $31,2016.$ No salvage value was received.

Journalize the transactions. $($Hint: You may wish to set up T$-$accounts, post beginning balances, and then post $2026$ transactions.$)$

Blue uses straight$-$line depreciation for buildings and equipment. The buildings are estimated to have a $40-$year useful life and no

salvage value; the equipment is estimated to have a $10-$year useful life and no salvage value. Update depreciation on assets

disposed of at the time of sale or retirement. $($List all debit entries before credit entries. Record entries in the order displayed in the

problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is

required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

Land

Cash

$($To record depreciation on equipment sold$)$