Rossi Lake Resort reported the following on its balance sheet at December 31, 2018: (Click the icon to view the partial balance sheet.) (Click the icon to view additional information.) Requirements 1. Journalize Rossi Lake Resort's plant asset purchase and depreciation transactions for 2019. 2. Report plant assets on the December 31, 2019, balance sheet. Requirement 1. Journalize Rossi Lake Resort's plant asset purchase and depreciation transactions for 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by journalizing the plant asset purchase. Journal Entry 0 Partial Balance Sheet - X Date Accounts Debit Credit Property, plant, and equipment, at cost: Land ... ...........$ Buildings Less: Accumulated depreciation ...... 143,000 715,000 (344,000) 400,000 (263,000) Next, journalize the depreciation on the buildings. Equipment........................ Less: Accumulated depreciation ...... Journal Entry Accounts Date Debit Credit Print Done i X - Depreciation Information Now journalize the depreciation on the equipment. Journal Entry Date Accounts Debit Credit On July 1 2019, the resort expanded operations and purchased additional equipment for cash at a cost of $110,000. The company depreciates buildings using the straight-line method over 20 years with residual values of $89,000. Due to expected obsolescence, the equipment has a useful life of only 10 years and is being depreciated by the double-declining-balance method with a residual value of zero. Choose from any list or enter any number in the input fields and then continue to the next question. Print Done Now journalize the depreciation on the equipment. Journal Entry Date Accounts Debit Credit Requirement 2. Report plant assets on the December 31, 2019, balance sheet. Balance Sheet Property, plant, and equipment: Less Less: Total property, plant and equipment