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

Land				$ 3,783,000
Buildings		$26,570,000
Less: Accumulated depreciationbuildings		15,037,425		11,532,575
Equipment		50,440,000
Less: Accumulated depreciationequipment		6,305,000		44,135,000
Total plant assets				$59,450,575

During 2018, the following selected cash transactions occurred.

Apr.	1		Purchased land for $2,774,200.
May	1		Sold equipment that cost $756,600 when purchased on January 1, 2011. The equipment was sold for $214,370.
June	1		Sold land for $2,017,600. The land cost $1,261,000.
July	1		Purchased equipment for $1,387,100.
Dec.	31		Retired equipment that cost $882,700 when purchased on December 31, 2008. No salvage value was received.

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 O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit (To record depreciation on buildings.) Dec. 31 To record depreciation on equipment.) 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 O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit (To record depreciation on buildings.) Dec. 31 To record depreciation on equipment.)