Land	$	408,800
Building		538,400
Accumulated depreciation, building1		398,400
Equipment		177,200
Accumulated depreciation, equipment2		74,000

¹Remaining estimated useful life is eight years with a residual value of $40,000; depreciated using the straight-line method to the nearest whole month. ²Total estimated useful life is 10 years with a residual value of $16,000; depreciated using the double-declining-balance method to the nearest whole month. Required: Prepare the entries for each of the following. (Round intermediate calculations to the nearest whole dollar.) 1. The land and building were sold on September 27, 2024, for $547,000 cash.