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At December 31, 2022, Monty Company reported the following as plant assets. During 2023 , the following selected cash transactions occurred. April 1 Purchased land

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At December 31, 2022, Monty Company reported the following as plant assets. During 2023 , the following selected cash transactions occurred. April 1 Purchased land for $2,190,000. May 1 Sold equipment that cost $1,080,000 when purchased on January 1, 2019. The equipment was sold for $648,000. June 1 Sold land purchased on June 1,2013 for $1,510,000. The land cost $395,000. July 1 Purchased equipment for $2,480,000, Dec. 31 Retired equipment that cost $473,000 when purchased on December 31, 2013. loumalize the above transations. The company uses stralght -ine depreciation for bullings and equlament The buildincs are fstilnated to have a 50 -year life and no calvagevalue. The fquioment is tarimuted to har a 10 -year ireful life and no salvage value. Update depreclation on atsets disposed of at the time of cile or refir cinent. flist all debir entries before credif entries. Credif acceunt tities are nutamaticaliy indeated whes emeunt is rntered. Do nat indent manualiy. Becord lournal entries in the arder presented is the problem. If no entry is reaulred, select "No Fntry" for the acrount tiries and enter of for the ambunts.) Record adunting entries for ofrereiptionfor 2023. (14st ell tebit estries before ordit eatriec. Crefir screset titles are eutemetically indented when as ownt is ratered. Do not indrnt macially. Recerd journsi entries in the order preiented in the probless. If as entry is required, nateet "No Entry* for the ecceunt titles and enter of for the amosents.) Prepare the plant assets section of Monty's balancesheet at December 31, 2023. (tist Plant Assets in order of Lond. Buildinas and fauipment.I

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