1.

Portland Company sold equipment with a book value (historical cost accumulated depreciation) of $1,200 for $1,100 cash. Total depreciation expense for the year was $800. The beginning and ending balances in the Accumulated Depreciation account are $2,000 and $1,400 respectively. The beginning and ending balances in the Property, Plant, and Equipment account are $7,000 and $7,400 respectively. How much equipment did Portland Company purchase during the year?