Miller, Inc., has the following plant asset accounts: Land, Buildings, and Equipment, with a separate accumulated depreciation account for each of these except Land. Miller completed the following transactions:
Jan 4 Traded in equipment with accumulated depreciation of $61,000 (cost of $134,000) for similar new equipment with a cash cost of $178,000. Received a trade-in allowance of $77,000 on the old equipment and paid $101,000 in cash.
Jun 29 Sold a building that had a cost of $650,000 and had accumulated depreciation of $140,000 through December 31 of the preceding year. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $220,000. Miller received $110,000 cash and a $394,625 note receivable.
Oct 30 Purchased land and a building for a single price of $360,000. An independent appraisal valued the land at $160,800 and the building at $241,200.
Dec 31 Recorded depreciation as follows:
Equipment has an expected useful life of 8 years and an estimated residual value of 3% of cost. Depreciation is computed on the double-declining-balance method.
Depreciation on buildings is computed by the straight-line method. The new building carries a 40-year useful life and a residual value equal to 30% of its cost.

Requirement
Record the transactions in Miller, Inc.’s journal.