Information for Oriole Ltd. follows: 1. On July 6, Oriole acquired the plant assets of Desbury Company, which had discontinued operations. The property was appraised by a reliable, independent valuator on the date of acquisition as follows Land Building-structure1,715,000 Building- HVAC Machinery Total $552,000 174,000 744,000 $3,185,000 Oriole gave 19,000 of its common shares in exchange. The most recent sale of Oriole's common shares took place last month, when 5,900 shares were sold for $175 per share. 2. Oriole had the following cash expenses between July 6 and December 15, the date when it first occupied the building Renovations and refurbishments of building Construction of bases for machinery to be installed later Driveways and parking lots Remodelling of office space in building, including new partitions and walls62,500 Special assessment by city on land 105,000 133,000 127,000 23,800 On December 20, Oriole purchased machinery for $264,000, subject to a 4% cash discount, and paid freight on the machinery of $14,900. The machine was dropped while being placed in position, which resulted in paying the supplier for repairs costing $20,100. The company paid the supplier within the discount period, and records purchases of machinery using the net method. Prepare the entries for these transactions on the books of Oriole Ltd. Oriole prepares financial statements in accordance with IFRS. (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 0 for the amounts.) No. Account Titles and Explanation Debit Credit 2. (To record purchase of property) 2. To record purchase of machinery) Buildings-HVAC Land Improvements Land Accounts Payable Machinery Maintenance and Repairs Expense Buildings - Structure Cash Finance Expense Accounts Receivable Common Shares No Entry Buildings