Grouper Farms Ltd$.,$ which follows ASPE, had the following transactions during the fiscal year ended December $31,2023.$

On May $1,$ a used tractor was sold at auction. The information concerning this transaction included:

After the seeding season, on June $15,2023,$ a plough with an original cost of $$6,500$ and a carrying amount of $$700$ was

discarded.

On September $1,2023,$ a new plough was purchased for $$7,500.$

On December $30,$ a section of land was sold to a neighbouring farm called Clear Pastures Ltd$.$ The original cost of the land

was $$49,000.$ To finance the purchase, Clear Pastures gave Grouper a three$-$year mortgage note in the amount of $$75,000$

that carries interest at $8\%,$ with interest payable annually each December $30.$

On December $31,2023,$ depreciation was recorded on the farm equipment in the amount of $$17,100.$

$($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 O for the amounts. Record

journal entries in the order presented in the problem. List all debit entries before credit entries.$)$