At December 31, 2022, Sheffield Company reported the following as plant assets. $ 4,110,000 $28,650,000 13,680,000 14.970,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets 47,920,000 4,730,000 43,190,000 $62,270,000 During 2023, the following selected cash transactions occurred. April 1 May 1 Purchased land for $2,150,000. Sold equipment that cost $870,000 when purchased on January 1, 2019. The equipment was sold for $522,000. Sold land purchased on June 1, 2013 for $1,420,000. The land cost $399,000. June 1 July 1 Purchased equipment for $2,530,000. Retired equipment that cost $511,000 when purchased on December 31, 2013. Dec. 31 (a) Joumalize the above transactions. The company uses straight line depreciation for buildings and equipment. The buildings are estimated to have a 50-year 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 (List all debit entries before credit entries. 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 for the amounts.) Debit Credit Date Account Titles and Explanation (To record sale of equipment)