ABC has the following accounts in the Property, Plant and Equipment (PPE) section of its balance sheet: Land, Buildings, and Equipment. Each non-current asset account has a separate accumulated depreciation contra-account except for Land. ABC uses the historical cost principle to value its fixed assess after acquisition. ABC completed the following transactions in fiscal year 2017. ABC has a fiscal year end of 31st December.

July 2017: ABC sold the Building A. The Building A appeared with a cost of 1,310,000 and accumulated depreciation of 260,000 in the balance sheet of ABC for the prior fiscal year 2016. ABC uses the straight-line depreciation method for estimating the depreciation expense of its buildings. The management of ABC estimates a useful life of Building A equal to 40 years and a residual value equal to310,000. ABC received from the purchaser of the building 230,000 cash and a 710,500 note receivable.

please record the journal entries in ABCs book for the above