Bramble Corporation, a private enterprise, made the following purchases related to its property, plant, and equipment during its fiscal No$.$ Account Titles and Explanation

$($To record purchase of equipment$)$

$($To record repairs and maintenance expense$)$

$[$

$($To record depreciation expense$)($To record purchase of

equipment with trade$-$in$)$

year ended December $31,2023.$ The company uses the straight$-$line method of depreciation for all its capital assets.

In early January, Bramble issued $139,580$ common shares in exchange for property consisting of land and a warehouse. On

the date of acquisition, a reliable, independent appraiser estimated that the fair value of the land and warehouse was

$$599,590$ and $$299,730,$ respectively. The seller had advertised a price of $$899,320$ or best offer for the land and warehouse

in a commercial retail magazine. Bramble paid a local real estate broker a finder's fee of $$34,910.$ The most recent sale of

Bramble's shares took place a month prior when $15,000$ common shares were sold for $$10$ per share.

On March $31,$ the company acquired equipment on credit. The terms were a $$6,500$ cash down payment plus payments of

$$4,610$ on March $31$ for each of the next $4$ years. The implicit interest rate was $11\%.$ The equipment's list price was $$16,680.$

Additional costs that were incurred to install the equipment included $$840$ to tear down and replace a wall and $$1,370$ to

rearrange existing equipment to make room for the new equipment. An additional $$870$ was spent to repair the equipment

after it was dropped during installation.

During the year, the following events also occurred:

A new motor was purchased for $$49,830$ for a large grinding machine $($original cost of the machine, $$349,570$; accumulated

depreciation at the replacement date, $$99,990).$ The motor will not improve the quality or quantity of production; however, it

will extend the grinding machine's useful life from the current $7$ years to $9$ years. $($Ignore the IFRS requirement to estimate

and remove the cost of the old motor.$)$