The following is data on plant assets and intangible assets of PT. Bawor as of December 31, 2022: Patent ($9,120,000 less amortization $1,368,000) $ 7,752,000 Land $23,000,000 Buildings $35,100,000 Less: Acc depre buildings $ 5,655,000 $29,445,000 Equipment $42,000,000 Less: Acc depre equipment $ 9,187,500 $32,812,500

Cash transactions during 2023: Jan 1 Paid $102,000 to retain patent. June 1 Sold equipment for $230,000. Equipment purchased on March 1, 2016 for $2,976,000 (not including installation costs of $24,000). Aug 31 Purchased building for $22,860,000. 1 Oct Exchange old equipment for new equipment. Old equipment purchased on the 30th November 2019 for $5,088,000. Currently the fair value of old equipment on the market is $3,420,000. For this transaction, PT. Bawor must raise $784,800. 1 Nov Truck purchased on 1 January 2016 is no longer used (retire). Truck purchased for $2,400,000.

information: : The patent was obtained January 1, 2020 and has a useful life of 20 years. Building useful life = 15 years, equipment = 8 years. Residual value = $0. Depreciation uses the straight-line method.

Question: 1. Make a journal to record the 2023 transactions. 2. Prepare an adjusting journal Dec. 31, 2023 to record the depreciation and amortization required.