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

Accumulated depreciationbuildings $63,600,000 Accumulated depreciationequipment 52,050,000 Buildings 97,600,000 Equipment 150,800,000 Land 21,800,000

The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries 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 $4.10 million. Paid $1.025 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 $350,000 cash. The equipment cost $3.30 million when originally purchased on January 1, 2009. June 1 Sold land for $4.02 million. Received $600,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.80 million when purchased on June 1, 2011. Interest on the note is due annually each June 1. July 1 Purchased equipment for $2.50 million cash. Dec. 31 Retired equipment that cost $1 million when purchased on December 31, 2007. No proceeds were received.

Record the above transactions. (Credit account titles are automatically indented when the 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 April 1 May 1 June 1 July 1 Dec. 31 April 1 May 1 June 1 July 1 Dec. 31 (To record depreciation expense) May 1 (To record sale of equipment) June 1 April 1 May 1 June 1 July 1 Dec. 31 April 1 May 1 June 1 July 1 Dec. 31 (To record depreciation expense) April 1 May 1 June 1 July 1 Dec. 31 (To record disposal of equipment)

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Record any adjusting entries required at December 31. (Credit account titles are automatically indented when the 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 expense for buildings) Dec. 31 (To record depreciation expense for equipment) Dec. 31 (To record interest incurred but not yet paid) Dec. 31 (To record interest accrued but not yet received)

SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT

Prepare the property, plant, and equipment section of the companys statement of financial position at December 31. (List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

SUNLAND COMPANY Statement of Financial Position (Partial) For the Year Ended December 31, 2017 For the Month Ended December 31, 2017 December 31, 2017 Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity $ $ Add Less : Add Less : Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity $