Current Attempt in Progress

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

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

Apr. $1$ Purchased land for $$2,774,200.$

May $1$ Sold equipment that cost $$756,600$ when purchased on January $1,2019.$ The equipment was sold for $$214,370.$

June $1$ Sold land for $$2,017,600.$ The land cost $$1,261,000.$

July $1$ Purchased equipment for $$1,387,100.$

Dec. $31$ Retired equipment that cost $$882,700$ when purchased on December $31,2016.$ No salvage value was received. $($a$)$

Your answer is partially correct.

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

Grouper 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.$)$