OakwoodOakwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: LOADING...(Click the icon to view the values.) OakwoodOakwood paid $ 265 comma 000$265,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

LOT 1 49,000

LOT 2 171,500

LOT 3 269,500

and also,

OnJanuary 2,2016, Royal PetRoyal Pet purchased fixtures for $ 53 comma 000$53,000 cash, expecting the fixtures to remain in service for ten years. Royal PetRoyal Pet has depreciated the fixtures on a straight-line basis, with $ 2 comma 000$2,000 residual value. OnAugust 31,2018, Royal PetRoyal Pet sold the fixtures for $ 33 comma 400$33,400cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31,2018.(Assume the modified half-month convention is used. Record debitsfirst, then credits. Select the explanation on the last line of the journal entry table.)