Smith Falls Cable Companys (SFCC) balance sheet includes the following assets under Property, Plant, and Equipment: Land, Buildings, Office Furniture, Communication Equipment, and Televideo Equipment. The company has a separate accumulated depreciation account for each of these assets except Land. Assume that SFCC completed the following transactions in 2021:

Jan 4 Sold communication equipment with accumulated depreciation of $85,000 (cost of $96,000) for $18,000 cash. Purchased new communication equipment for $118,000 in cash.

June 30 Sold a building that had cost $495,000 and had accumulated depreciation of $255,000 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 $95,000. The company received $50,000 cash and a $250,000 Note receivable.

Dec 31 Recorded depreciation on the new communication equipment, using the double-declining balance method over a 5-year useful life with zero residual value.

Required: Record the transactions in SFCCs journal.