Information for Sunland Ltd. follows: 1. On July 6, Sunland 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: $ 501,000 Land Building-structure Building - HVAC Machinery 2,724,000 174,000 706,000 $ 4,105,000 Total Sunland gave 23,000 of its common shares in exchange. The most recent sale of Sunland's common shares took place last month, when 6,600 shares were sold for $185 per share. 2. Sunland had the following cash expenses between July 6 and December 15, the date when it first occupied the building: 2. Sunland had the following cash expenses between July 6 and December 15, the date when it first occupied the building $ 105,000 130.000 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 walls Special assessment by city on land 126,000 60,100 20,000 On December 20, Sunland purchased machinery for $261,000, subject to a 3% cash discount, and paid freight on the machinery of $13,900. The machine was dropped while being placed in position, which resulted in paying the supplier for repairs costing $12.900. The company paid the supplier on the day that the machinery was received, and recorded the purchase of machinery net of any discount. Prepare the entries for these transactions on the books of Sunland Ltd. Sunland 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 for the amounts.) No. Account Titles and Explanation Debit Credit 1. Land 2. 2. (To record purchase of property) > 2.