There are list of assets of Multiverse Corporation: Assets Date of purchase (acquisition) Quantity Cost per unit ($) Estimated useful life Estimated salvage value per unit ($) Depreciation Method Land 1 2,000,000 July, 1 2011 October, 1 2012 Building 4 1,700,000 20 years 100,000 Straight Line Vehicle March, 1 2018 1 240,000 100,000 km 40,000 Machine October, 1 2018 4 120,000 4 years 8,000 Units of activity Declining Balance Declining Balance Equipment June, 1 2019 4 100,000 4 years Information about all assets in the company during 2021 as follow: April, 1 A building was sold for $ 1,100,000 April, 30 Three units of machine were sold at a price of @$ 30,000 June, 1 Two units of equipment were retired because they were not functioning properly September, 30 A vehicle was exchanged for a new vehicle. At the time of exchange, an old vehicle is valued at $ 64,000. The new vehicle has an estimated residual value of $ 10,000 and an estimated useful life of 200,000 km. New vehicle are depreciated using the unit of activity method. Until 2020, the old vehicle had been depreciated by 80,000 km. Early 2021 to September 30, 2021 the old vehicle have been depreciated by 5,000 km. Required: Journalize all transactions above and give your explanation for each transaction