P9-2A, Journalize equipment transactions related to purchase, sale, retirement, and depreciation. At December 31, 2017, Navaro Corporation reported the following plant assets. Land $3,000,000 Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment $26,500,000 $14,575,000 11,925,000 40,000,000 5,000,000 $35,000,000 $52,575,000 Total plant assets During 2018, the following selected cash transactions occurred $2,200,000 Purchased land for Apr 1 May when purchased on January 1, 2011. The equipment was Sold equipment that cost $600,000 $170,000 $1,600,000 sold for The land cost Jun 1 Sold land for $1,000,000 Purchased equipment for $1,100,000 Jul 1 Retired equipment that cost $700,000 when purchased on December 31, 2008. No salvage Dec 31 value was received. (c) Prepare the plant assets section of Rivera's balance sheet at December 31, 2018 NAVARO CORPORATION Partial Balance Sheet December 31, 2018 Plant Assets $4,200,000 plant assets $26,500,000 land less:Accumulated dep Equipment Less: Accumulated dep Total plant assets 12,762,500 13,737,500 Amount Amount 32,100,000 $50,037,500 Land Buildings Equipment Accumulated Dep reciation-Buildings Accumulated Dep reciation-Equip ment P9-2A, Journalize equipment transactions related to purchase, sale, retirement, and depreciation. At December 31, 2017, Navaro Corporation reported the following plant assets. Land $3,000,000 Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment $26,500,000 $14,575,000 11,925,000 40,000,000 5,000,000 $35,000,000 $52,575,000 Total plant assets During 2018, the following selected cash transactions occurred $2,200,000 Purchased land for Apr 1 May when purchased on January 1, 2011. The equipment was Sold equipment that cost $600,000 $170,000 $1,600,000 sold for The land cost Jun 1 Sold land for $1,000,000 Purchased equipment for $1,100,000 Jul 1 Retired equipment that cost $700,000 when purchased on December 31, 2008. No salvage Dec 31 value was received. (c) Prepare the plant assets section of Rivera's balance sheet at December 31, 2018 NAVARO CORPORATION Partial Balance Sheet December 31, 2018 Plant Assets $4,200,000 plant assets $26,500,000 land less:Accumulated dep Equipment Less: Accumulated dep Total plant assets 12,762,500 13,737,500 Amount Amount 32,100,000 $50,037,500 Land Buildings Equipment Accumulated Dep reciation-Buildings Accumulated Dep reciation-Equip ment