4 At December 31, 2022, Martinez Company reported the following as plant assets. 3,860,000 Land Buildings Less Accumulated depreciation--buildings Equipment Less Accumulated depreciation-equipment Total plant assets $28,520,000 12,200,000 16,320,000 48,380,000 5,220,000 43.160.000 $63.340.000 During 2023, the following selected cash transactions occurred. 1-May Sold equipment that cost $1,170,000 when purchased on January 1, 2019. The equipment was sold for $702,000. 1-Jun Sold land purchased on June 1, 2013 for $1,430,000. The land cost $409,000. The company uses straight-line depreciation method to depreciate all assets. The equipment sold is estimated to have a 10-year useful life and no salvage value. The buildings are estimated to have a 50-year life and no salvage value. a Prepare journal entry to record the sale of the equipment. 10 points) b Prepare journal entry to record the sale of the land. (10 points) What is the carrying (book) value of the building as of December 31, 2023. (5 points)