At December 31, 2022, Pina Corporation reported the following plant assets.

Land				$ 4,083,000
Buildings		$26,620,000
Less: Accumulated depreciationbuildings		16,229,925		10,390,075
Equipment		54,440,000
Less: Accumulated depreciationequipment		6,805,000		47,635,000
Total plant assets				$62,108,075

During 2023, the following selected cash transactions occurred.

Apr.	1		Purchased land for $2,994,200.
May	1		Sold equipment that cost $816,600 when purchased on January 1, 2016. The equipment was sold for $231,370.
June	1		Sold land for $2,177,600. The land cost $1,361,000.
July	1		Purchased equipment for $1,497,100.
Dec.	31		Retired equipment that cost $952,700 when purchased on December 31, 2013. No salvage value was received.

Journalize the transactions. Pina 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. (Record entries in the order displayed in the problem statement. 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.)

Question 3 of 4 0.78/3 Gain on Disposal of Land July 1 Equipment Cash Dec. 31 4 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation on equipment retired) Accumulated Depreciation Equipment Equipment e Textbook and Media Assistance Used e Textbook Video List of Accounts x Your answer is incorrect. Question 3 of 4 0.78/3 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.) Prepare the plant assets section of Pina's balance sheet at December 31, 2023. (Hint: You may wish to set up Taccounts, post beginning balances, and then post 2023 transactions.) (List Plant Assets in order of Land, Building and Equipment.) PINA CORPORATION Partial Balance Sheet a $ $ : $