help please

Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning balances, and then post 2023 transactions.) Novak uses straight-line depreciation for buildings and equipment. 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. Update depreciation on assets disposed of at the time of sale or retirement.

At December 31, 2022, Novak Corp. reported the following plant assets. Land $ 3,710,000 Buildings $27,420,000 Less: Accumulated depreciation-buildings 12,339,000 15,081,000 Equipment 47,200,000 Less: Accumulated depreciation equipment 5,900,000 41,300,000 Total plant assets $60,091,000 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,030,000. May 1 Sold equipment that cost $960,000 when purchased on January 1, 2016. The equipment was sold for $288,000. June 1 Sold land for $1,500,000. The land cost $997,000. July 1 Purchased equipment for $1,097,000. Dec. 31 Retired equipment that cost $703,000 when purchased on December 31, 2013. No salvage value was received. Date + + Account Titles and Explanation (To record depreciation) (To record sale of equipment) Debit Credit + + (To record sale of equipment) (To record depreciation) (To record retirement of equipment)