At December 31, 2025, Bramble Corporation reported the following plant assets. During 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $3,137,200. May 1 Sold equipment that cost $855,600 when purchased on January 1,2019 . The equipment was sold for $242,420. June 1 Sold land for $2,281,600. The land cost $1,426,000. July 1 Purchased equipment for $1,568,600. Dec. 31 Retired equipment that cost $998,200 when purchased on December 31, 2016. No salvage value was received. Your answer is correct. Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning balances, and then post 2026 transactions.) Bramble 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. (List all debit entries before credit entries. 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 O for the amounts.) May 1 Cash 242420 Accumulated Depreciation-Equipment 627440 Equipment 8556 Gain on Disposal of Plant Assets \begin{tabular}{rr} \hline 627440 \\ \hline \\ \\ \hline 1426 \\ \hline \end{tabular} (To record sale of equipment) June 1 Cash 2281600 Land 2281600 Gain on Disposal of Plant Assets 14260c 8556c July 1 Equipment 1568600 Cash 15686 Gain on Disposal of Plant Assets July 1 Equipment 1568600 Cash Dec. 31 Depreciation Expense 99820 Accumulated Depreciation-Equipment (To record depreciation on equipment retired) Dec. 31 Accumulated Depreciation-Equipment 998200 Equipment 99826 (To record disposal of equipment) (b) Your answer is correct. Record adjusting entries for depreriation for 2026. (List debit entry before credit entry. 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.) Prepare the plant assets section of Bramble's balance sheet at December 31, 2026. (List Plant Assets in order of Land, Building, and Equipment.) Prepare the plant assets section of Bramble's balance sheet at December 31, 2026. (List Plant Assets in order of Land, Building, and Equipment.)