Durham Lid. decited on July to dispose of an asset group consiting of land and abuilding. An active plan of disposal is being carried out, and sale is highly probable within tollowing year. The assets catrying values and estimated recoverable amounts at July are as follows:LandEquipmentCost$ $EstimatedCarrying Value Recoverable Amount$ $ $$On December the asset group sold for $ net of costs to sell.Required: Prepare journal entries that are appropriate to record the information above.