At Decenber $31,2022,$ Whispering Wings Company reported the following plant assests.

Land

$$4,490,000$

Buildings

$$27,700,000$

Less: Accumulated depreciation$-$buildings

$13,320,000$

$14,380,000$

Equipment

$47,660,000$

Less: Accumulated depreciation$-$equipment

$5,220,000$

$42,440,000$

Total plant assets

$$61,310,000$

During $2023,$ the following selected cash transactions occurred.

April $1$

Purchased land for $$2,160,000.$

May$1$

Sold equipment that cost $$1,020,000$ when purchased on January $1,2019.$ The equipment was sold for $$612,000.$

June$1$

Sold land purchased on June $1,2013$ for $$1,470,000.$ The land cost $$400,000.$

July$1$

Purchased equipment for $$2,330,000.$

Dec. $31$

Retired equipment that cost $$482,000$ when purchased on December $31,2013.$

Record adjusting entries for depreciation for $2023.($List all debit entries before credlt entries. Credit account titles are automatlcally

Indented when amount is entered. Do not Indent manually. Record Journal entries In the order presented In the problem. 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

c$31$

Depreciation Expense

$$554,000$

Accumulated Depreciation$-$Buildings

$$554,000$

$($To record building depreciation$)$

ec $31$

What is the Depreciation Expense and the Accumulated Depreciation$-$Equipment amonts?