at december 31,2025, sheffield corporation reported the following plant assets.

At December 31,2025, Shetheld Corporation reported the following plant assets. During 2026, the following selected cash transactions occurred Apr. 1 Purchased land for $3,896,200. May 1 Sold eouipment that cost $1,062.600 when purchased on January 1, 2019. The equipment was sold for $301,070. June 1 Sold land for $2,833,600. The land cost $1,771,000. Dec 31 Retired equipment that cost $1.239700 when purchased on December 31.2016. No salvage value was received. (a) Journalize the transactions. (Hint You may wish to set up T-accounts, post beginning balances, and then post 2026 transactions) Shetfield uses straight-line depreciation for buildings and equipment. The buildings are estimated to hwe a 40 -year useful life and no satvago value; the equipment is estimated to heve a 10 year usefol 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 tities are autamatically indented when amount is entered. Do not indent manually. If no entry k required, select "No Entry' for the account titles and enter Ofor the anounts.) (To record depreciation on equipment sold) (To recordsale of equipment) SUPPORT Chapter 9-Homework Assignment Question 6 of 6 12 (To record depreciation on equipment retired) (To record disposal of equipment) Record adjusting entries for depreciation 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 of for the amounts) Prepare the plant assets section of Sheffield's balance sheet at December 31, 2026. (List Plant Assets in onder of Land, Building, and Equipment) Question 6 of 6 12 5 5 (3) eTextbook and Media