For the adjusting entries on Dec 31st, I have been able to calculate 2 out of the 4 required entries. I am struggling with the other two that you will see below. Please don't just provide me with the answer, but the logic and formula required to understand this. Thank you!

Q1) At January 1, 2017, Oriole Company reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings		$62,700,000
Accumulated depreciationequipment		54,100,000
Buildings		97,400,000
Equipment		150,900,000
Land		23,000,000

The company uses straight-line depreciation for buildings and equipment, its year-end is December 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 have a 10-year useful life and no salvage value. During 2017, the following selected transactions occurred:

Apr. 1		Purchased land for $4.50 million. Paid $1.125 million cash and issued a 3-year, 6% note payable for the balance. Interest on the note is payable annually each April 1.
May 1		Sold equipment for $330,000 cash. The equipment cost $3.18 million when originally purchased on January 1, 2009.
June 1		Sold land for $3.72 million. Received $900,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.50 million when purchased on June 1, 2011. Interest on the note is due annually each June 1.
July 1		Purchased equipment for $2.10 million cash.
Dec. 31		Retired equipment that cost $1 million when purchased on December 31, 2007. No proceeds were received.

Exercise: Record any adjusting entries required at December 31st

	(To record depreciation expense for buildings)
31-Dec	Depreciation expense	$2,435,000	Correct
	Accumulated Depreciation - Buildings	$2,435,000	Correct
	(To record depreciation expense for equipment)
31-Dec	Depreciation expense	????	How to calculate?
	Accumulated Depreciation - Equipment	????
	(To record interest accrued but not yet paid)
31-Dec	Interest expense	$151,875	Correct
	Interest payable	$151,875	Correct
	(To record interest accrued but not yet received)
31-Dec	Interest receivable	????	How to calculate?
	Interest revenue	????