Journalize the above transactions. The company uses straight line depreciation for buildings and equipment. The buildings are estimated to have a 50-year 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry required, select "No Entry" for the account titles and enter 0 for the amounts.) At December 31, 2020, Riverbed Company reported the following as plant assets. Land $3,720,000 Date Debit 17,800,000 Buildings Less: Acoumulated depreciation-buildings Equipment Less: Acoumulated depreciation-equipment Total plant assets $28,020,000 10,220,000 49,000,000 5,330,000 Account Titles and Explanation 1-Apr Land cash 1-May Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation) 1-May Cash Accumulated Depreciation Equipment Credit 21600001 2160000 28000 28000 43,670,000 $65,190,000 During 2021, the following selected cash transactions occurred. 504000 364000 1-Apr Purchased land for $2,160,000 Equipment 840000l 1-May Gain on Disposal of Plant Assets 28000 1-Jun Sold equipment that cost $840,000 when purchased on January 1, 2017. The equipment was sold for $504,000. Sold land purchased on June 1, 2011 for $1,450,000. The land cost $407,000 Purchased equipment for $2.440,000 Retired equipment that cost $489,000 when purchased on December 31, 2011. The company received no proceeds related to salvage (To record sale of equipment) 1-Jul 1-Jun Cash 1450000 Dec. 31 4070001 10430001 2440000 2440000 Land Gain on Disposal of Plant Assets 1-Jun Equipment Cash 31-Dec Depreciation Expense Accumulated Depreciation Equipment (To record depreciation) 31-Dec Accumulated Depreciation-Equipment 560400 5604001 48891001 4889100 (To record retirement of equipment) Prepare the plant assets section of Riverbed's balance sheet at December 31, 2021. (List Plant Assets in order of Land, Buildings and Equipment.) Riverbed Company Balance Sheet (Partial) $ $ Property Plant Land building LESS: Accumulated Depreciation- Buildings Equipment LESS: Accumulated Depreciation - Equipment $ 5,473,000.00 28,020,000.00 10,780,400.00 $ 1,729,600.00 50,111,000.00 $ 9,394,100.00 $ 40,716,900.00 $ 63,429,500.00 Journalize the above transactions. The company uses straight line depreciation for buildings and equipment. The buildings are estimated to have a 50-year 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry required, select "No Entry" for the account titles and enter 0 for the amounts.) At December 31, 2020, Riverbed Company reported the following as plant assets. Land $3,720,000 Date Debit 17,800,000 Buildings Less: Acoumulated depreciation-buildings Equipment Less: Acoumulated depreciation-equipment Total plant assets $28,020,000 10,220,000 49,000,000 5,330,000 Account Titles and Explanation 1-Apr Land cash 1-May Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation) 1-May Cash Accumulated Depreciation Equipment Credit 21600001 2160000 28000 28000 43,670,000 $65,190,000 During 2021, the following selected cash transactions occurred. 504000 364000 1-Apr Purchased land for $2,160,000 Equipment 840000l 1-May Gain on Disposal of Plant Assets 28000 1-Jun Sold equipment that cost $840,000 when purchased on January 1, 2017. The equipment was sold for $504,000. Sold land purchased on June 1, 2011 for $1,450,000. The land cost $407,000 Purchased equipment for $2.440,000 Retired equipment that cost $489,000 when purchased on December 31, 2011. The company received no proceeds related to salvage (To record sale of equipment) 1-Jul 1-Jun Cash 1450000 Dec. 31 4070001 10430001 2440000 2440000 Land Gain on Disposal of Plant Assets 1-Jun Equipment Cash 31-Dec Depreciation Expense Accumulated Depreciation Equipment (To record depreciation) 31-Dec Accumulated Depreciation-Equipment 560400 5604001 48891001 4889100 (To record retirement of equipment) Prepare the plant assets section of Riverbed's balance sheet at December 31, 2021. (List Plant Assets in order of Land, Buildings and Equipment.) Riverbed Company Balance Sheet (Partial) $ $ Property Plant Land building LESS: Accumulated Depreciation- Buildings Equipment LESS: Accumulated Depreciation - Equipment $ 5,473,000.00 28,020,000.00 10,780,400.00 $ 1,729,600.00 50,111,000.00 $ 9,394,100.00 $ 40,716,900.00 $ 63,429,500.00