At January 1, 2025, Sandhill Ca. reported the following property, plant, and equipment accounts: The company uses straight-line depreciation for buildings and equipment, its yearend is Decmber 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 hame a 10 -year useful life and nosalvagevalue. During 2025, the following selected transactions occurred: Apr. 1 Purchased land for $4.70 million. Padd $1.175 million cash and issued a 3. year, 6. note payable for the bulance. interest on the note is payable annually each Aoril 1. May 1 Sold equipment for $210,000 cash. The equipment cost $3.48 million when originally purchated on January 1,2017. June 1 Sold tand for $4.32 miltion Recteived $900.000 cash and accepted a 3year, $% note for the balance. The land cost $1. 80 million when purchased on June 1,2019. Interest on the note is due annually each June 1 July 1 Purchated equipenent for $200 milion cay Dec.31 Retired equipment thst cost \$1 millidn when purchased on December 31. 2015. No proceeds were received. (To record depreciation on equipment sold) (To record sale of equipment) (Ta record depreclation on equipnent tetired) (To record disposat of echilgrient)