X Record the entry to write the depreciable assets down to their carrying value in their respective asset accounts. 1 Record entry to reclassify the assets with loss or gain, if 2 any Record the current value of assets. Record the sale of the disposal group 4 Note: journal entry has been entered Drabinski Ltd. decided on 1 July 20X3 to dispose of an asset group consisting of land, a building, and equipment. An active plan of disposal is being carried out, and sale is highly probable within the following year. The assets' carrying values and estimated recoverable amounts at 1 July 20X3 are as follows: Estimated Carrying Recoverable Value Cost Amount $ 400,000 $ 1,500,000 400,000 420,000 900,000 Land 400,000 $ Building Equipment 2,700,000 900,000 300,000 $4,000,000 $2,300,000 $1,620,000 On 31 December 20X3, the net recoverable amount of the group is reliably estimated to be $1,640,000. On 1 April 20X4, the asset group is sold for $1,700,000, net of costs to sell Prepare journal entries that are appropriate to record the information above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)