At December 31, 2019, Jimenez Enterprises reported the following as plant assets:

P10.5 (LO 2, 3, 5) At December 31, 2019, Jimenez Enterprises reported the following as plant assets Land E 3,000,000 Buildings $26,500,000 Less: Accumulated depreciation-buildings ousiosgob 12, 100,000 To ingoins =14,400,000 Equipment want 1/BB340,000,000 Posner Less: Accumulated depreciation-equipment 5,000,000 ) 35,000,000 27,008 Total plant assets E52,400,000 During 2020, the following selected cash transactions occurred. April 1 Purchased land for E2,200,000., By shidosm aid To going deng andT A smidgeMy May 1 Sold equipment that cost $750,000 when purchased on January 1, 2016. The equipment was sold for E466,000. of tesoridal ban lie to 00124 bas , OF28 cleco goi June 21 Sold land purchased on June 1, 2010 for E 1,800,000. The land cost $300,000. July 1 Purchased equipment for E2,450,000. Dec. 31 Retired equipment that cost $500,000 when purchased on December 31, 2010. No residual value was received. 1 000.082 zion pullout aid To 1206 babacost ad? ' amidaghf. is gainsmor splay laubiest 600,2281 s drew amby bar onidont ort Instructions a. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no residual value. The equipment is estimated to have a 10-year useful life and no residual value. Update depreciation on assets dis- posed of at the time of sale or retirement. b. Record adjusting entries for depreciation for 2020. sandoing all bringer of yong Isvaunt ed Bgiles c. Prepare the plant assets section of Jimenez's statement of financial position at December 31, 2020