Problem 9-05A al-c (Video) (Part Level Submission) At December 31, 2020, Sunland Company reported the following as plant assets. Land $ 4,360,000 17,270,000 Buildings $29,770,000 Less: Accumulated depreciation--buildings 12,500,000 Equipment 47,890,000 Less: Accumulated depreciation equipment 4,870,000 Total plant assets 43,020,000 $64,650,000 During 2021, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for $2,030,000. Sold equipment that cost $1.110,000 when purchased on January 1, 2017. The equipment was sold for $666,000. Sold land purchased on June 1, 2011 for $1,490,000. The land cost $391,000. Purchased equipment for $2,580,000. Retired equipment that cost $489,000 when purchased on December 31, 2011. The company received no proceeds related to salvage. m ust 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 50-year Me and no salvage value. The equipment is estimated to have a 10-year usefu We and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (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 for the amounts) Date Account Tities and Explanation (To record deprecation) Tanda UUS (To record sale of equipment) (To record depreciation) (To record retirement of equipment) Click if you would like to Show Work for this question: Open Show Work