Question 3 On April 1,2017, Nash Company received a condemnation award of $524,600 cash as compensation for the forced sale of the company's land and building, which stood in the path of a new state highway. The land and building cost $73,200 and $341,600, respectively, when they were acquired. At April 1, 2017, the accumulated depreciation relating to the building amounted to $195,200. On August 1,2017, Nash purchased a piece of replacement property for cash. The new land cost $109,800, and the new building cost $488,000. Prepare the journal entries to record the transactions on April 1 and August 1,2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select"No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit April 1 Aug. 1