Problem 10-05A a-c (Video) At December 31, 2020, Whispering Winds Compariy reported the following as plant assets. $3,500,000 Land Buildings Less: Accumulated depreciation--buildings Equipment Less: Accumulated depreciation equipment Total plant assets 17,000,000 $27,000,000 10,000,000 47,000,000 4,500,000 42,500,000 $63.000.000 During 2021, the following selected cash transactions occurred. April 1 Purchased land for $2,000,000. May 1 Sold equipment that cost $600,000 when purchased on January 1, 2017. The equipment was sold for $360,000. June 1 Sold land purchased on June 1, 2011 for $1,410,000. The land cost $391.000. July 1 Purchased equipment for $2,300,000. Dec. 31 Retired equipment that cost $471,000 when purchased on December 31, 2011. The company received no proceeds related to salvage. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Credit account titles are automatically inde the order presented in the problem. If no entry is required, select "No Entry for the account witles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit 1000:2021.hn W. Sons. All Rights Reserved. An of lohn Wilson GARA the best. The comprese for and want the wings are intend to have your own. The more And te parece time of wear retirement les anima ally in when they here the many fry for the accidenter of them Milena D Get v Torward (To-re Kalent reported) CALCULATOR Her er derfor 2011, en really intended when and mental header entry with and defe the e record ingen) Prarthana of whispering Walance sheet December 31, 2071 (Hant Awwinder Bugs and Whispering Winds company Balance Sheet(Partial