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At January 1, 2021, Sheridan Limited reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings		$63,200,000
Accumulated depreciationequipment		49,400,000
Buildings		92,700,000
Equipment		159,700,000
Land		18,600,000

The company uses straight-line depreciation for buildings and equipment, its year end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no residual value; the equipment is estimated to have a 10-year useful life and no residual value. During 2021, the following selected transactions occurred:

Apr.	1		Purchased land for $4,360,000. Paid $1,110,000 cash and issued a three-year, 6% mortgage payable for the balance. Interest on the mortgage is payable annually each April 1.
May	1		Sold equipment for $270,000 cash. The equipment cost $2,749,200 when originally purchased on January 1, 2013.
June	1		Sold land for $3,497,400. Received $857,400 cash and accepted a three-year, 5% note for the balance. The land cost $1,400,000 when purchased on June 1, 2015. Interest on the note is due annually each June 1.
July	1		Purchased equipment for $2,000,000 cash.
Dec.	31		Retired equipment that cost $900,000 when purchased on January 1, 2012. No proceeds were received.
	31		Tested land for impairment and found that its fair value was $18,600,000.

(a)

Record the above transactions. (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. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 1May 1June 1July 1Dec. 31
Apr. 1May 1June 1July 1Dec. 31
	(To record depreciation expense)
Apr. 1May 1June 1July 1Dec. 31
	(To record loss/gain on sale of equipment)
Apr. 1May 1June 1July 1Dec. 31
	(To record loss/gain on sale of land)
Apr. 1May 1June 1July 1Dec. 31
Apr. 1May 1June 1July 1Dec. 31
	(To record depreciation expense)
Apr. 1May 1June 1July 1Dec. 31
	(To record the retirement of equipment)
Apr. 1May 1June 1July 1Dec. 31
	(To record impairment loss)

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