At January 1, 2018, Sunland Limited reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings		$59,500,000
Accumulated depreciationequipment		57,100,000
Buildings		102,500,000
Equipment		152,600,000
Land		20,600,000

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 residual value; the equipment is estimated to have a 10-year useful life and no residual value. During 2018, the following selected transactions occurred:

Apr.	1		Purchased land for $4,790,000. Paid $1,040,000 cash and issued a three-year, 6% mortgage payable for the balance. Interest on the mortgage is payable annually each April 1.
May	1		Sold equipment for $330,000 cash. The equipment cost $2,576,700 when originally purchased on January 1, 2010.
June	1		Sold land for $3,275,700. Received $838,500 cash and accepted a three-year, 5% note for the balance. The land cost $1,300,000 when purchased on June 1, 2012. Interest on the note is due annually each June 1.
July	1		Purchased equipment for $2,000,000 cash.
Dec.	31		Retired equipment that cost $900,000 when purchased on January 1, 2009. No proceeds were received.
	31		Tested land for impairment and found that its recoverable value was $20,600,000.

Debit Credit Date TApr. 1 Account Titles and Explanation Land 4790000 Cash 040000 T Mortgage Payable 3750000 May 1 Depreciation Expense | Accumulated Depreciation - Equipment 85890 (To record depreciation expense) May 1 Cash 330000 Accumulated Depreciation - Equipment 2138661 Loss on Disposal 108039 Equipment 2576700 (To record loss/gain on sale of equipment) June 1 Cash 1836,500 2437200 Notes Receivable Galh oh Disposal 1975/00 (To record loss/gain on sale of land) Equipment * 2000000 Cash 2000000 Dec. 31 Depreciation Expense - 200000 200000 Accumulated Depreciation - Equipment 200000 (To record depreciation expense) Accumulated Depreciation - Equipment Dec. 31 900000 900000 | Equipment (To record the retirement of equipment) Dec. 31 Impairment Loss T60900001 Land 6090000 (To record impairment loss Record any adjusting entries required at December 31. (Credit account titles are automatically indented w is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to O Date Account Titles and Explanation Debit Credit Dec. 31 Depreciation Expense | Accumulated Depreciation - Buildings 2562500 (To record depreciation expense on buildings) Dec. 31 Depreciation Expense Accumulated Depreciation - Equipment 3815000 (To record depreciation expense on equipment) Dec. 31 Interest Expense 5580 Interest Payable 365580 (To record interest expense) Dec. 31 Interest Receivable Interest Revenue 284340 (To record interest revenue) Building and Equipment.) SUNLAND LIMITED Statement of Financial Position (Partial) December 31, 2018 Assets Property, Plant, and Equipment | Land 20,600,000 1 Buildings 102,500,000 59,500,000 "Less Buildings Equipment Less Taccumulated Depreciation - Equipment 152,600,000 57,100,000 Total Property, Plant, and Equipment