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Problem 9-05A a1-c (Video) (Part Level Submission) At December 31, 2020, Splish Brothers Inc. reported the following as plant assets. Land $4,110,000 Buildings $28,650,000 Less: Accumulated depreciation-buildings 13,680,000 14,970,000 Equipment 47,920,000 Less: Accumulated depreciation-equipment 4,730,000 43,190,000 Total plant assets $62,270,000 During 2021, the following slected cash transactions occurred. April 1 Purchased land for $2,150,000. May 1 Sold equipment that cost $870,000 when purchased on January 1, 2017. The equipment was sold for $522,000. Sold land purchased on June 1, 2011 for $1,420,000. The land cost $399,000. Purchased equipment for $2,530,000. Retired equipment that cost $511,000 when purchased on December 31, 2011. The company received no proceeds related to salvage. June 1 July 1 Dec. 31 SOURCES Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year 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. (Credit account titles are automatically 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 o for the amounts.) ed LA al-d Level Date Account Titles and Explanation Debit Credit s by Study Apr. 1 : Land 2150000 Cash 2150000 May 2 : Depreciation Expense 29000 Accumulated Depreciation-Equipment 29000 Accumulated Depreciation-Equipment (To record deprebooony May 1 : Cash 522000 Accumulated Depreciation-Equipment 377000 Equipment 877000 Gain on Disposal of Plant Assets 22000 (To record sale of equipment) May 1 : Cash 1420000 Land 399000 Gain on Disposal of Plant Assets 1021000 CALCULATOR PRIM Piay 1 Casin 1420000 SOURCES ed Land 399000 Aa1-c Level Gain on Disposal of Plant Assets 1021000 July 1 s by Study (To record depredation) (To record retirement of equipment) Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 1 used SAVE FOR LATER (b) The parts of this question must be completed in order. This part will be available when you complete the part above