Endblast Productions showed the following selected asset balances on December 31, 2020: Land $ 428,800 Building 558,400 Accumulated depreciation, building1 406,400 Equipment 187,200 Accumulated depreciation, equipment2 81,000

1Remaining estimated useful life is eight years with a residual value of $20,000; depreciated using the straight-line method to the nearest whole month. 2Total estimated useful life is 10 years with a residual value of $24,000; depreciated using the double-declining-balance method to the nearest whole month.

Required: Prepare the entries for each of the following. (Round intermediate calculations to the nearest whole dollar.)

1. The land and building were sold on September 27, 2021, for $608,000 cash.

2. The equipment was sold on November 2, 2021, for $57,600 cash.