Question:Assume Agropur's balance sheet includes the following assets under Property, Plant, and Equipment: Land, Buildings, and Motor-Carrier Equipment. Speedy has a separate accumulated depreciation account for each of these assets except Land. Further, assume that Agropur completed the following transactions in 2017:

Jan 2 - Sold motor-carrier equipment with accumulated depreciation of $110,900 (cost of $145,000) for $65,000 cash. Purchased similar new equipment with a cash price of $187,000

July 3 - Sold a building that had cost $478,000 and had accumulated depreciation of $222,000 through December 31 of the preceding year. Depreciation is computed on a straight-line basis. The building had a 40-year useful life and a residual value of $24,000. Agropur received $157,000 cash and a $93,325 note receivable

Oct 29 - Purchased land and a building for a single price of $479,000. An independent appraisal valued the land at $201,000 and the building at $309,000.

Dec 31 - Recorded depreciation as follows:

1. a)New motor-carrier equipment has an expected useful life of six years and an estimated residual value of 5% of cost. Depreciation is computed on the double-declining-balance method.
2. b)Depreciation on buildings is computed by the straight-line method. The new building carries a 40-year useful life and a residual value equal to 10% of its cost

Required:

Record the transactions in Agropur's journal.