On April 1, 2017, Pina Company received a condemnation award of $455,800 cash as compensation for the forced sale of the companys land and building, which stood in the path of a new state highway. The land and building cost $63,600 and $296,800, respectively, when they were acquired. At April 1, 2017, the accumulated depreciation relating to the building amounted to $169,600. On August 1, 2017, Pina purchased a piece of replacement property for cash. The new land cost $95,400, and the new building cost $424,000.

Prepare the journal entries to record the transactions on April 1 and August 1, 2017.