Selected balance sheet information is available for Aylmer Inc at December $31,2022($it$\text{'}$s fiscal year end$)$ BEFORE any adjusting entries:

Accumulated

Cost Depreciation useful life Notes

Truck $-2017$ Chev $$50,942$ $$36,3877$ years purchased $1/1/2017$

Truck $-2020$ Tahoe $$62,26317,7897$ years purchased $1/1/2020$

Investment Property $$1,344,874$ purchased $1/1/2019$

Land $$2,241,456$ purchased $1/1/2010$

Machine $-$ #$1$ $$280,18228,01810$ years remaining life revalued on $12/31/2020$

when revalued

Revaluation Surplus $($OCI$)$ $$32,021$

Other important information:

Fair value Traded for: Fair Value Cash Paid Notes

Truck $-2017$ Chev $12,0002022$ Toyota $26,0003,500$ assume transaction HAS commercial substance

Truck $-2020$ Tahoe $40,0002021$ Nissan $43,5001,000$ assume transaction DOES NOT HAVE commercial substance

The investment property is valued using the fair value model. Fair value is $$1,569,019$ at December $31,2022.$

The land was sold on July $15,2022($the accountant did not record the sale$)$ for $$2,017,310$

Machine #$1$ is valued using the revaluation model. The fair value at $12/31/22$ is $$186,788$

Other Important note $-$ record depreciation BEFORE any trades occurred on December $31,2022$

On the "Solutions" tab, prepare ALL necessary journal entries to reflect the above information.

Including $($keep all entries separate$)$:

Depreciation expense at December $31,2022($keep all items separate.

The trade of the $2017$ Chev for the $2022$ Toyota.

The trade of the $2020$ Tahoe for the$2021$ Nissan.

The revaluation of the investment property.

The sale of the land.