Pine Co. owns o building in Edmonton, Alberto. Pine Co enters into on ogreementwith Mople Inc., whereby Pine Co will sel the buiding. excluding the lond that it sits on, to Mople inc ond simultoneously will lease it bock: The details are os follows: - The original cost of the building was $15 million, it is 60% deprecoted. - Mople Inc agrees to poy Pine Co $12 milion for the building. which is the foir value ot the time of sole. - Mople inc ogrees to leose the building to Pine Co for 20 yeors. The onnuol lease payments ore $11milion, due ot the end of the year. - There is no residual guarantee expected to be poid. - Pine Co will pay oll the operating, maintenance costs, inclucing taxes ond insuronce. - The effective date of the agreement is 1 Januory 203. Pine Co's effective borrowing rate is 8% Required: Prepore the journal entry to record the sole on 1 Januory 203 using iFRs. Iif no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) Journal entry worksheet Prepare the journal entry to record the sale on 1 January 203 : Enter cebits before crndits