At December 31, 2020, Whispering Winds Company reported the following as plant assets. Land $ 4,490,000 14,380,000 Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets $27,700,000 13,320,000 47,660,000 5,220,000 42,440,000 $61,310,000 During 2021, the following selected cash transactions occurred. April 1 May 1 June 1 Purchased land for $2,160,000. Sold equipment that cost $1,020,000 when purchased on January 1, 2017. The equipment was sold for $612,000. Sold land purchased on June 1, 2011 for $1,470,000. The land cost $400,000. Purchased equipment for $2,330,000. Retired equipment that cost $482,000 when purchased on December 31, 2011. The company received no proceeds related to salvage. July 1 Dec. 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 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. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit (To record depreciation) May 1 (To record sale of equipment) (To record depreciation) + (To record retirement of equipment Record adjusting entries for depreciation for 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit (To record building depreciation) (To record equipment deprecition) Prepare the plant assets section of Whispering Winds's balance sheet at December 31, 2021. (List Plant Assets in order of Land, Buildings and Equipment.) Whispering Winds Company Balance Sheet (Partial)