At January 1, 2017, Blossom Company reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings		$60,400,000
Accumulated depreciationequipment		53,500,000
Buildings		97,600,000
Equipment		150,000,000
Land		21,850,000

The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjustments annually. 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. During 2017, the following selected transactions occurred:

Apr. 1		Purchased land for $4.40 million. Paid $1.100 million cash and issued a 3-year, 6% note payable for the balance. Interest on the note is payable annually each April 1.
May 1		Sold equipment for $320,000 cash. The equipment cost $2.64 million when originally purchased on January 1, 2009.
June 1		Sold land for $5.74 million. Received $700,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.50 million when purchased on June 1, 2011. Interest on the note is due annually each June 1.
July 1		Purchased equipment for $2.70 million cash.
Dec. 31		Retired equipment that cost $1 million when purchased on December 31, 2007. No proceeds were received.

C) Record any adjustments required at December 31. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

(c)Record any adjustments required at December 31. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Cash Notes Rec + Interest Rec. Jan. 1 $ $ $ $ Apr. 1 May 1 May 1 June 1 July 1 Dec 31 Dec 31 Dec 31 $ Dec 31 Dec 31 Dec 31 Assets Interest Rec. Land Buildings Accum. Depr. - $ $ $ $ $ Accum. Depr.- Bldgs. Equipment Accum. Depr.- Equip. = Interest $ $ $ $ $ Liabilities Interest Payable Notes Payable Common Stock RE $ $ $ $ ] ] ] ] ] ] $ $ ] ] Stockholders' Equity Retained Earnings Expense Revenue Dividend $ $ $ > vidend >