(a) A wing costing $2,345,000 was added to the building. A new mortgage was issued for the cost. (b) Equipment was upgraded to increase its capacity to produce widgets. The upgrade cost of $11,500 was paid in cash. (c) A major overhaul costing $8,000 on a machine increased the useful life by four years. The payment was made in cash. Required: Journalize the above transactions on December 31. Refer to the Chart of Accounts for exact wording of account titles. ASSETS 110 Cash REVENUE 410 Sales 610 Interest Revenue 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Supplies Expense 523 Delivery Expense 524 Rent Expense 525 Insurance Expense 531 Repairs and Maintenance Expense 541 Depreciation Expense-Building 542 Depreciation Expense-Equipment 121 Building 122 Accumulated Depreciation-Building 123 Equipment 124 Accumulated Depreciation-Equipment 125 Machinery 126 Accumulated Depreciation-Machinery 543 Depreciation Expense-Machinery 132 Goodwill 133 Patents 544 Amortization Expense-Patents 591 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 216 Mortgage Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary Journalize for the each transaction on December 31. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT 1 2 3 4 5 6