Bridgeport Farms Ltd, which follows ASPE had the following transactions during the fiscal year ending December 31, 2020, On May 1, a used tractor was sold at auction. The information concerning this transaction included: 1. $53.900 Original cost of the tractor Carrying amount of tractor at date of sale Cash proceeds obtained at salo 20,800 23.100 2. 3. After the seeding season, on June 15, 2020, a plough with an original cost of $7,000 and a carrying amount of 5800 was discarded On September 1, 2020, a new plough was purchased for $8,350. On December 30, a section of land was sold to a neighbouring farm called Clear Pastures Ltd. The original cost of the land was $49.000. To finance the purchase. Clear Pastures gave Bridgeport a three-year mortgage note in the amount of $75,000 that carries interest at 6% with interest payable annually each December 30. On December 31, 2020, depreciation was recorded on the farm equipment in the amount of $18,000 4. 5. (a) Prepare the journal entries that recorded the transactions during the year. (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 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit May 1, 2020 June 15, 2020 C