1. Make the following entries
   1. Record purchase of land for $155,000 for cash.
   2. Record the depreciation of $1,500 of a building for the year end
   3. Record the sale of equipment for $8,000 cash. The original cost of the equipment was $11,000, and has $4,000 of accumulated depreciation at the time of the sale.
2. 4. Record the depletion of $200,000 for mineral rights for the year.
   5. ABC Co decided they needed petty cash of $550. Prepare the journal entry.