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 residual value. The equipment is estimated to have a 10-year useful life and no residual 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.) At December 31, 2016, Marigold SA reported the following as plant assets. 2,798,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation- equipment Total plant assets 29,584,000 10,819,000 40,882,000 18,765,000 4,525,000 36,357,000 57,920,000 During 2017, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for 2,487,000. Sold equipment that cost 660,000 when purchased on January 1, 2013. The equipment was sold for 409,200. Sold land purchased on June 1, 2007 for 1,786,000. The land cost 291,000. Purchased equipment for 2,212,000. Retired equipment that cost 594,000 when purchased on December 31, 2007. No residual value was received. Date Account Titles and Explanation Debit Credit Apr. 1 Land 2487000 Cash 2487000 May 1 Depreciation Expense 22000 22000 Accumulated Depreciati (To record depreciation) May 1 Cash 409200 (To record sale of equipment) (To record depreciation) (To record retirement of equipment) LINK TO TEXT LINK TO TEXT Record adjusting entries for depreciation for 2017. (Credit account titles are automatically indented when amou Date Account Titles and Explanation Debit Credit Dec. 31 (To record building depreciation) Dec. 31 (To record equipment deprecition) MARIGOLD SA Partial Statement of Financial Position