At December 31, 2022, Pina Colada Corp.reported the following plant assets. Land $ 3,770,000 Buildings $ 27,290,000 Less: Accumulated depreciation-buildings 12,280,500 15,009.500 Equipment 48,020,000 Less: Accumulated depreciation-equipment 6,002,500 42,017,500 Total plant assets $ 60,797,000 During 2023, the following selected cash transactions occurred.' Apr. 1 Purchased land for $ 2,190,000. May 1 Sold equipment that cost $ 900,000 when purchased on January 1, 2016. The equipment was sold for $ 270,000. June 1 Sold land for $ 1,540,000. The land cost $ 994,000. July 1 Purchased equipment for $ 1,094,000. Dec. 31 Retired equipment that cost $ 691,000 when purchased on December 31, 2013. No salvage value was received. Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning balances, and then post 2023 transactions.) Pina Colada uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 1 v Land 2190000 Cash 219 May 1 Cash 270000 June 1 Land 1540000 Land Improvements 99 Cash 1440600 Accumulated Depletion (To record sale of equipment) (To record depreciation) (To record retirement of equipment) Textbook and Media Assistance Used