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At December 31, 2022, Monty Corp. reported the following plant assets. During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,140,000.
At December 31, 2022, Monty Corp. reported the following plant assets. During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,140,000. May 1 Sold equipment that cost $630,000 when purchased on January 1,2016. Th June 1 Sold land for $1,490,000. The land cost $1,009,000. July 1 Purchased equipment for $1,109,000. Dec. 31 Retired equipment that cost $701 no when purchased on December 31,20 t$630,000 when purchased on January 1,2016 . The equipment was sold for $189,000. D. The land cost $1,009,000 pr$1,109,000 cost $701,000 when purchased on December 31, 2013. No salvage value was received. (a) Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning
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