At December 31, 2022. Indigo Corporation reported the following plant assets. Land $5,358,000 Buildings $26,710,000 Less: Accumulated depreciation-buildings 21,298,050 5,411,950 Equipment 71,440,000 Less: Accumulated depreciation-equipment 8,930,000 62,510,000 Total plant assets $73,279,950 During 2023, the following selected cash transactions occurred. 1 Purchased land for $3,929,200. 1 Sold equipment that cost $1,071,600 when purchased on January 1, 2016. The equipment was sold for $303,620. Apr. May June 1 Sold land for $2,857,600. The land cost $1,786,000. July 1 Purchased equipment for $1.964,600. Dec. 31 Retired equipment that cost $1,250,200 when purchased on December 31, 2013. No salvage value was received. Jounal the transactions Indigo uses straight-Iine depredation for budng and equipment The bukings are estimated to have a 40-year usefud Ite and no salvage value the equpment is estimated to have a 10-year useful te and no sahage value Update depreciation on assets dihposed of at the time of sale or retirement econd entries in the onder dipiyed in the peoblem statement Cedit account es ore outometically indented when amount is ented Do not indnt manualyno entry a required select Ne Erry for the account es and enter 0 for the anourts) Account Titles and Explanation Date Debt Cede Apl1 Land 3929200 Cah 29300 Depreclation Expense May 1 35720 Acmed Depdation Eip 35720 (to record deprecation on equipment sol Cash 30620 Acmdd Dreiaon Eqipest 740 Egipment 1071400 Gan onD d Plat A Ane 1 cash 2857600 l ofand Gan on 1071600 Lnd 176000 dy 1 9400 Cash Dec 31 Degreciation Ep 325030 Accumdated Orpreiaton to e d deation on t d Ated 2000 Epent Record adstlng entries for deprecation for 2023 edt account s e omatically indonted when anout is entered De not indent manualyno entry reuired select Ne Enry for the accunt bes and enter 0for the omounts Date Acceant Titles and Explanation Debit Credit Dec. 31 Deoea Expes Accted Degraiondn (To recard deprecaion on budings) Dec 31 Depdaion Epense Acomdated Degrunon C t (To record deprecation on equpnt) elextbook and Media Lst of Accounts ri pay e Prepae the plant asets section of indigss baance shet at December 31,2003 04ie You may wih to set e T accounts post begiving balances and then post 2023 tranactions)t Pant Ame in onder of Land and ap INDICO CORPORATION Partial Balance Sheet 3200 Land Las Aindp in evtheanAMes 03x365p