At December 31, 2019, Shamrock Enterprises reported the following as plant assets. 4,320,000 19,230,000 Land Buildings Less: Accumulated depreciation-bulldings Equipment Less: Accumulated depreciation-equipment Total plant assets 29,800,000 10.570,000 47.520,000 4.910.000 42.610,000 66,160,000 During 2020, the following selected cash transactions occurred. Purchased land for 2,000,000. April 1 May 1 Sold equipment that cost 840,000 when purchased on January 1, 2016. The equipment was sold for 521,920. Sold land purchased on June 1, 2010 for 1.430,000. The land cost 393,00Q June 1 July Purchased equipment for 2,440,000. 1 Dec Retired equipment that cost 480,000 when purchased on December 31, 2010. No residual value was received, 31 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 disposed of at the time of sale or retirement. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit (To record depreciation) ACE o + 21 (To record sale of equipment) (To record depreciation) (To record depreciation) (To record retirement of equipment) e Textbook and Media List of Accounts Record adjusting entries for depreciation for 2020. (Credit occount titles are automatically indented when amount is entered. Do not indent manually) Bebit Credit Date Account Titles and Explanation Dec. 31 Record adjusting entries for depreciation for 2020. (Credit account titles are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Dec. 31 (To record building depreciation) Dec. 31 (To record equipment deprecition) e Textbook and Media List of Accounts Prepare the plant assets section of Shamrock's statement of financial position at December 31, 2020. (List Property, plant and equipment in order of land, buildings and equipment.) SHAMROCK ENTERPRISES Partial Statement of Financial Position