At December 31, 2022, Culver Corporation reported the following plant assets. Land $ 3,798,000 Buildings $26,690,000 Less: Accumulated depreciation-buildings 15,097,050 11,592,950 Equipment 50,640,000 Less: Accumulated depreciation-equipment 6,330,000 44,310,000 Total plant assets $59,700,950 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,785,200. May 1 Sold equipment that cost $759,600 when purchased on January 1, 2016. The equipment was sold for $215,220. June 1 Sold land for $2,025,600. The land cost $1,266,000. July 1 Purchased equipment for $1,392,600. Dec. 31 Retired equipment that cost $886,200 when purchased on December 31, 2013. No salvage value was received.Record adjusting entries for depreciation for 2023. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record depreciation on buildings.) Dec. 31 (To record depreciation on equipment.)