Use the information provided in the journal entry to post the transaction to the t-account and ledger. Explanations and references are not required. Post in DR/CR order. Round to the nearest whole dollar On Dec. 15, land held for sale has a fair value that is $123,900 less than the carrying value. Record the loss. Loss on Land Held for Sale Loss on Land Held for Sale Date Explanation Ref Debit Credit Land Held for Sale Land Held for Sale Date Explanation Ref Debit Credit Balance On Dec. 5, purchased $5,000 of equipment on account. Equipment Equipment Date Explanation Ref Debit Credit Balance Accounts Payable Accounts Payable Date Explanation Ref Debit Credit