Grace Carol Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each asset. During 2016, Grace Carol completed the following transactions: Jan. 1 Purchased office equipment. $112.000. Paid $74.000 cash and financed the remaining with a note payable Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $340,000 paid in cash. An independent appraisal valued the land at $267.750 and the communication equipment at $89.250. Sep. 1 Sold a building that cost $540.000 (accumulated depreciation of $240,000 through December 31 of the preceding year) Grace Carol received $380,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $60,000 Dec. 31 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value Office equipment is depreciated using the double-declining-balance method over five years with a $2,000 residual value. Record the transactions in the journal of Grace Carol Associates