Journalize transactions from question 1.

edugen/lti/mainun secure | edugen Return to Blackboard Weygandt, Accounting Principles, 12e Assignment Gradebook ORION Downloadable eTextbook CES Questlon 1 At December 31, 2017, Grand Company reported the following as plant assets $ 4,360,000 Land Buildings Less: Accumulated depreciation-buildings 12,500,000 17,270,000 $29,770,000 Equipment 47,890,000 Less: Accoumulated depreciation-equioment 4870,000 43,020,00 Total plant assets $64,650,000 Ouring 2018, the following selected cash transactions occurred April 1 May 1 June 1 Purchased land for $2,030,000. Sold equipment that cost $1,110,000 when purchased on January 1, 2014. The equipment was sold for $666,000. Sold land purchased on June 1, 2008 for $1,490,000. The land cost $391,000. July 1 Purchased equipment for $2.580,000 Dec. 31 Retired equipment that cost $489,000 when purchased on December 31, 2008. No salvage value was recelived (a) 2 Your answer is partially correct. Try again. Journaize the above transactions. The company uses straight-line depreclation for bulildings and equipment. The buildings are estimated to ha 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Credit account titles manually. Record journal entries in the order presented in the prollen. If no entry is required, select "No Entry for the accour A Rights Recerved. A Division of 2shn.Way SIns