The property, plant, and equipment accounts for Pharoah Company held the following opening balances on January 1, 2023 (the first day of Pharoah's fiscal year): Land $550,000 Equipment 774,000 Accumulated Depreciation-Equipment 136,000 Machinery 456,000 Accumulated Depreciation-Machinery 163,000 The following transactions took place during 2023 (assume all transactions took place on January 1): a. b. C. d. Pharoah Company paid $19,000 related to the machinery and $7,000 related to the equipment for maintenance to keep the assets in normal working order. Equipment with an original cost of $41,400 and accumulated depreciation of $29,600 was traded in on some new equipment. The new equipment had a fair value of $53,600, and Pharoah was given a trade in allowanc