signment Question 25 At December 31, 2016, Concord SA reported the following as plant assets. Land 3,398,000 Buildings 28,237,000 Less: Accumulated depreciation-buildings 13,632,000 14,605,000 Equipment 40,377,000 Less: Accumulated depreciation- equipment 5,471,000 34,906,000 Total plant assets 52,909,000 During 2017, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for 2,195,000. Sold equipment that cost 720,000 when purchased on January 1, 2013. The equipment was sold for 446,400. Sold land purchased on June 1, 2007 for 1,812,000. The land cost 299,000. Purchased equipment for 2,387,000. Retired equipment that cost 566,000 when purchased on December 31, 2007. No residual value was received. Record adjusting entries for depreciation for 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manuall Date Account Titles and Explanation Debit Credit Dec. 31 (To record building depreciation) Dec. 31 (To record equipment deprecition) SHOW LIST OF ACCOUNTS