At January 1,2027. Cullumber Company reported the following property, plant, and equipment accounts: ...
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At January Cullumber Company reported the following property, plant, and equipment accounts: The company uses straightline depreciation for buildings and equipment, its yearend is December and it makes adjustments annually. The buildings are estimated to have a year useful life and no salvage value; the equipment is estimated to have a year useful life and no salvage value. During the following selected transactions occurred: Apr. Purchased land for $ million. Paid $ million cash and issued a year, note payable for the balance, Interest on the note is payable annually each April May Sold equipment for $ cash. The equipment cost $ million when originally purchased on January June Sold land for $ million. Received $ cash and accepted a year, note for the balance. The land cost $ million when purchased on June Interest on the note is due annually each June July Purchased equipment for $ million cash. Dec Retired equipment that cost $ million when purchased on December No proceeds were received.M 
At January Cullumber Company reported the following property, plant, and equipment accounts:
The company uses straightline depreciation for buildings and equipment, its yearend is December and it makes adjustments annually. The buildings are estimated to have a year useful life and no salvage value; the equipment is estimated to have a year useful life and no salvage value.
During the following selected transactions occurred:
Apr. Purchased land for $ million. Paid $ million cash and issued a year, note payable for the balance, Interest on the note is payable annually each April
May Sold equipment for $ cash. The equipment cost $ million when originally purchased on January
June Sold land for $ million. Received $ cash and accepted a year, note for the balance. The land cost $ million when purchased on June Interest on the note is due annually each June
July Purchased equipment for $ million cash.
Dec Retired equipment that cost $ million when purchased on December No proceeds were received.M
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You can see the logs in the Dashboard.