2. 23900 Common Stock 23900 3. 14600 epreciation Expense Accumulated Depreciation-Buildings 14600 4. alaries and Wages Expense 6300 Cash 6300 5. 9200 quipment Common Stock 1500 Paid-in Capital in Excess of Par-Common Stock 7700 6. Accumlated depreciation-equipment 1704 9940 Loss on Disposal of Plant Assets 14200 Equipment 2556 Exercise 12-03 Your answer is partially correct. Try again. Novak Corp. had the following transactions 1. Sold land (cost $7,440) for $9,300. 2. Issued common stock at par for $23,900 3. Recorded depreciation on buildings for $14,600 4. Paid salaries of $6,300. 5. Issued 1,500 shares of $1 par value common stock for equipment worth $9,200 6. Sold equipment (cost $14,200, accumulated depreciation $9,940) for $1,704 For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation 1. Cash Debit Credit 9300 7440 ain on sale of land 1860 Land 2. Cash 23900 Common Stock 23900