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During 2017 , the following selected eash transsetlona eccurred. May 1 Sold equipment that cost $750,000 when purchased on January 1,2013 . The equigment was sold for $466,000. July 1 Purchased equipment for $2,450,000, Oct. 1 Retired equipment that coot 3500,000 when purchased on December 31, 2007. No realdiaal value was received. The company uses straight-line depreciation for bulldinge and equipment. The buildinge ure estimated to have a 50-year life and no residual valioo, Tho equipment is estimated to have a 10-year useful life and no residual velue. Instructions: Based on the above-given information, answor the following quetions: (1) [11\% Points ] In the space below, write the journal entry to record the deprecintion of the buildings for the year 2017 . (2) [11/2 Points] In the space below, write the journal entry to record the depreciation of the equipment for the jear 2017. (3) [4 Points] Complete the given-below property, plant, und equipment section of Jimenes's statement of financial position on December 31,2017. Property, Plant, and Equipment Buildings Less Accumulated depreciation - buildings Equipment Less: Accumulated depreciation - equipment