Part A

At December 31, 2017, Grand Company reported the following as plant assets. During 2018, the following selected cash transactions occurred. (a) Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value. The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement