1. Keaubie Co. purchased land at a cost of $95,000 cash. Attorney's fees were $2,000 and the real estate broker's commission was $2,850. Determine the cost of the land. Journalize the purchase. Date Accounts Ref. Debit Credit 2. On July 1, Madison Co. purchased equipment costing $110,000. The estimated useful life is 8 years, with a salvage value of $5,000. a. Journalize the depreciation for the year in which it was purchased. Date Accounts Ref. Debit Credit 3. Keaubie Co. sold office equipment that originally cost $11,000 for $1,200 cash. The equipment had accumulated depreciation in the amount of $10,000. Record the sale of the equipment. Date Accounts Ref. Debit Credit 4. Lucy Co. sold office equipment that originally cost $25,000 for $4,000 cash. The equipment had accumulated depreciation in the amount of $19,000. Record the sale of the equipment Date Accounts Ref Debit Credit