Brady Salvage Company completed the following transactions involving plant assets:

1989 Jan. 5 Purchased on credit from Dexter Equipment an electronic scale priced at \(\$ 3,975\). The serial number of the scale was E-56273, its service life was estimated at five years with a trade-in value of \(\$ 375\), and it was assigned plant asset no. 545-1.

Apr. 3 Purchased on credit from Dexter Equipment a Moore mixer priced at \(\$ 6,141\). The serial number of the mixer was M-41652, its service life was estimated at six years with a trade-in value of \(\$ 525\), and it was assigned plant asset no. 556-2.

Dec. 31 Recorded straight-line depreciation on the plant equipment for 1989.

1990 Nov. 4 Sold the Moore mixer to Sharpstowne Steel for \(\$ 3,750\) cash.

4 Purchased a new Master mixer from Penford Equipment for \(\$ 5,400\). The serial number of the mixer was PM-87651, its service life was estimated at eight years with a trade-in value of \(\$ 720\), and it was assigned plant asset no. 556-3.

Dec. 31 Recorded straight-line depreciation on the plant equipment for 1990.

\section*{Required}

1. Open general ledger accounts for Plant Equipment and for Accumulated Depreciation, Plant Equipment. Prepare a subsidiary plant asset record card for each item of equipment purchased.

2. Prepare general journal entries to record the transactions and post to the proper general ledger and subsidiary ledger accounts.

3. Prove the December 31, 1990, balances of the Plant Equipment and Accumulated Depreciation, Plant Equipment accounts by preparing a list showing the cost and accumulated depreciation on each item of plant equipment owned by Brady Salvage Company on that date.