At December 31, 2017, Concord Corporation reported the following plant assets.

Land				$ 4,068,000
Buildings		$ 26,680,000
Less: Accumulated depreciationbuildings		16,170,300		10,509,700
Equipment		54,240,000
Less: Accumulated depreciationequipment		6,780,000		47,460,000
Total plant assets				$ 62,037,700

During 2018, the following selected cash transactions occurred.

Apr.	1		Purchased land for $ 2,983,200.
May	1		Sold equipment that cost $ 813,600 when purchased on January 1, 2011. The equipment was sold for $ 230,520.
June	1		Sold land for $ 2,169,600. The land cost $ 1,356,000.
July	1		Purchased equipment for $ 1,491,600.
Dec.	31		Retired equipment that cost $ 949,200 when purchased on December 31, 2008. No salvage value was received.

Journalize the transactions. Concord uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction datechoose a transaction date April 1May 1June 1July 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction datechoose a transaction date April 1May 1June 1July 1Dec. 31	enter an account title To record depreciation on equipment sold	enter a debit amount	enter a credit amount
	enter an account title To record depreciation on equipment sold	enter a debit amount	enter a credit amount
	(To record depreciation on equipment sold)
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction datechoose a transaction date April 1May 1June 1July 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction datechoose a transaction date April 1May 1June 1July 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction datechoose a transaction date April 1May 1June 1July 1Dec. 31	enter an account title to record depreciation on equipment retired	enter a debit amount	enter a credit amount
	enter an account title to record depreciation on equipment retired	enter a debit amount	enter a credit amount
	(To record depreciation on equipment retired)
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Record adjusting entries for depreciation for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title to record depreciation on buildings on december 31	enter a debit amount	enter a credit amount
	enter an account title to record depreciation on buildings on december 31	enter a debit amount	enter a credit amount
	(To record depreciation on buildings.)
Dec. 31	enter an account title To record depreciation on equipment on december 31	enter a debit amount	enter a credit amount
	enter an account title To record depreciation on equipment on december 31	enter a debit amount	enter a credit amount
	(To record depreciation on equipment.)

eTextbook and Media

List of Accounts

Prepare the plant assets section of Concords balance sheet at December 31, 2018. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2018 transactions.) (List Plant Assets in order of Land, Building and Equipment.)

CONCORD CORPORATION Partial Balance Sheet choose the accounting periodchoose the accounting period For the Month Ended December 31, 2018December 31, 2018For the Year Ended December 31, 2018
select an opening section nameselect an opening section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPlant AssetsStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotal Stockholders' Equity
enter a balance sheet item					$ enter a dollar amount
enter a balance sheet item			$ enter a dollar amount
select between addition and deductionselect between addition and deduction AddLess: enter a balance sheet item			enter a dollar amount		enter a subtotal of the two previous amounts
enter a balance sheet item			enter a dollar amount
select between addition and deductionselect between addition and deduction LessAdd: enter a balance sheet item			enter a dollar amount		enter a subtotal of the two previous amounts
select a closing section nameselect a closing section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPlant AssetsStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotal Stockholders' Equity					$ enter a total amount for this section