Record property francactions prepanepornal tatement of fonareial pasition. Estimated to have a 40y car life and no nsidual value; the equipment is catimated to have a io-year useful life and no residual value. Diring 2021 , the following ielected transactions occurred: Apr. 1 Purchaned land for 53.8 million. Paid 5950,000 cash and isaued in io soar. 6 s moatzage payable for the balanoe, Interent is payabie at maturity: May - 1.50ld equipment for 5700,000 cab. The equipmeat cost $1.5 millieig waen it was originally purchased on dantary 1,2017. fune 1 Sold land for 52,4 cuillion. Roceived 5760,000 cash and acepted a 6 si note for the batance. The note is due at maturity. The land cost $600,000 whan parchised on Jne ine ing duly - I Purchased equipment for $2 million on acoorunt, terms n /60. Septi. Haid azoount owing on a coosnt for purchase of equipment on July I. 3) Trated and for mpaiment and found that ti fair value was $11 million. Instructionis: a. Recond the above trinatedion