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please help journalize the following transactions. the company uses straightline depreciation for buildings and equipment. the equipment is estimated to have a 10-year useful life

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journalize the following transactions. the company uses straightline depreciation for buildings and equipment. 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 and retirement
At December 31,2022 , Sheffeld Company reported the following as plant assets. During 2023, the following selected cash transactions occurred. April 1 Purchased land for $2,000,000 May 1 Sold equipment that cost $660,000 when purchased on January 1,2019 . The equipment was sold for $396,000. June 1 Sold land purchased on June 1,2013 for $1,610,000. The land cost $401,000. July 1 Purchased equipment for $2,570,000. Dec.31 Retired equipment that cost $488,000 when purchased on December 31,2013. the D Record adjusting entries for depreciation for 2023. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) eTextbook and Media Prepare the plant assets section of Shetfeld's balance sheet at December 31, 2023. (List Plant Assets in order of Land, Bulidings and Equipment.) Prepare the plant assets section of Sheffield's balance sheet at December 31, 2023. (List Plant Assets in order of Land, Bulldings and Equipment.)

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