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At December 31, 2017, Pina Corporation reported the following plant assets. Land $4,083,000 Buildings $26,620,000 Less: Accumulated depreciationbuildings 16,229,925 10,390,075 Equipment 54,440,000 Less: Accumulated depreciationequipment

At December 31, 2017, Pina Corporation reported the following plant assets.
Land $4,083,000
Buildings $26,620,000
Less: Accumulated depreciationbuildings 16,229,925 10,390,075
Equipment 54,440,000
Less: Accumulated depreciationequipment 6,805,000 47,635,000
Total plant assets $62,108,075
During 2018, the following selected cash transactions occurred.
Apr. 1 Purchased land for $2,994,200.
May 1 Sold equipment that cost $816,600when purchased on January 1, 2011. The equipment was sold for $231,370.
June 1 Sold land for $2,177,600. The land cost $1,361,000.
July 1 Purchased equipment for $1,497,100.
Dec. 31 Retired equipment that cost $952,700when purchased on December 31, 2008. No salvage value was received.

Journalize the transactions. Pina uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a40-year useful life and no salvage value; the equipment is estimated to have a10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement.

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