Sunland uses the diminishing-balance method at one times the straight-line depreciation rate. Sunland Limited purchased delivery equipment on March 1, 2019, for $123,750 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $9,090. The equipment was disposed of on November 30,2021 . Sunland uses the diminishing-balance method at one times the straight-line depreciation rate, has an August 31 year end, and makes adjusting entries annually. (a) Record the acquisition of equipment on March 1, 2019. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) For the year ended December 31, 2021, Sandhill Ltd. had the following transactions related to the purchase of property. Assume all transactions are for cash unless otherwise stated. Feb. 7 Purchased real estate for $1.2 million, paying $294,800 cash and signing a mortgage payable for the balance. The site had an old building on it and the fair values of the land and building were $1.0 million and $91,100, respectively. The old building will be demolished and a new apartment building will be constructed on the site. 9 Paid legal fees of $21,130 on the real estate purchase of February 7. 15 Paid $60,540 to demolish the old building and make the land ready for the construction of the apartment building. 16 Received $16,770 from the sale of material from the demolished building. 28 Paid $4,000 to grade the land in preparation for the construction of the apartment building. Mar. 2 Paid architect fees of $77,670 to design the apartment building. July 2 The full cost for construction of the apartment building was $2.5 million. Paid $745,000 cash and signed a bank loan payable for the balance. 3 Purchased a one-year insurance policy on the finished building for $10,010. Aug. 29 Paid $48,910 for the paving of sidewalks and a parking lot for the building