Problem P9-5A, Journalize a series of equipment transactions related to purchase, sale, retirement, and depreciation Financial Accounting, 8 Edition by Weygandt, Kieso, and Kimmel Primer on Using Microsoft Excel in Accounting by Rex A Schildhouse Problem P9-5A. At December 31, 2013, Walton Com orted the following as plant assets S3,000,000 an Buildings Less: Accumulated de S26.500.000 ation-buildings 12.100.000 14.400.000 S40,000,000 ent Less: Accumulated de Total plant assets 5,000,000 35.000,000 S52.400,000 ent During 2014, the following selected cash transactions occurred. Apr 01 Purchased land forS2.200.000 May 01 Sold equipment that cos $750,000 hen purchased on January 1, 2010. The e Jun 01 Sold land purchased on June 1, 2004, f $1,800,000 Jul 01 Purchased equipment1f Dec 31 Retired equipment that cost ent was sold for $460,000 S300,000 The land cost 400,000 S500,000 when purchased on December 31, 2004. No salvage value was received. Instructions: ent. The buildings are year useful life and no (a) Joumalize the above transactions. The company uses straight-line depreciation for buildings and 50 year life and no salvage value. The equipment is estimated to have 10 have a salvage value. Update depreciation on assets disposed of at the time of sale or retirement. Apr01 Account title Amount Account title Amount May 01 Account title Amount Account title Amount Account title Account title May 01 Amount Amount Account title Account title Amount Amount Cost Life in vears De ation per vear ation per month ation for 4 months ation for 4 years and 4 months Amount Number Formula ormulla ormulla ormulla De Cost Accumulated de Book value Cash Gain on disposal Amount Amount ormulla Amount Formula ation ent eeds