Date Account Titles and Explanation Dec.31 Depletion Expense 551600 Accumulated Depreciation-Equipment (To record building depreciation) Dec. 31 Depletion Expense 4759600 Accumulated Depreciation Equipment (To record depreciation) 708320 Accumulated Depreciation-Equipment 836000 Equipment Gain on Disposal of Plant Assets (To record sale of equipment) Gain on Disposal of Plant Assets 2300000 Cash 230 Dec31 Depletion Expense 51400 Accumulated Depreciation-Equipment (To record depreciation) Dec31 Accurnulated Depreciation-Equipment 514000 Equipment (To record retirement of equipment) At December 31, 2019, Pronghorn Enterprises reported the following as plant assets. During 2020, the following selected cash transactions occurred. During 2020, the following selected cash transactions occurred. April Purchased land for 2,040,000. May Sold equipment that cost 1,140,000 when purchased on January 1, 2016. The equipment was sold for 708,320. 1 June 1 Sold land purchased on June 1, 2010 for 1,600,000. The land cost 392,000. July1Purchasedequipmentfor2,300,000 Your answer is partially correct