Cushenberry Corporation had the following transactions. 1. Sold land (cost $11,360) for $14,200.2. Issued common stock at par for $18,900.3. Recorded depreciation on buildings for $15,730.4. Paid salaries of $8,080.5. Issued 1,170 shares of $1 par value common stock for equipment worth $8,420.6. Sold equipment (cost $10,300, accumulated depreciation $7,210) for $1,236.

The journal entries are shown below:

1. Cash A/c Dr $14,200

To Gain on land A/c $2,840

To Land $11,360

(Being the land is sold)

2. Cash A/c Dr $18,900

To Common stock A/c $18,900

(Being the common stock is issued for cash)

3. Depreciation Expense A/c Dr $15,730

To Accumulated Depreciation - Buildings A/c $15,730

(Being depreciation expense is recorded)

4. Salaries expense A/c Dr $8,080

To Cash A/c $8,080

(Being the salaries expense is paid for cash)

5. Equipment A/c Dr $8,420

To Common stock A/c $1,170

To Additional paid-in capital in excess of par value A/c $7,250

(Being the equipment is purchased)

6. Cash A/c Dr $1,236

Accumulated depreciation - Equipment A/c Dr $7,210

Loss on sale of equipment A/c Dr $1,854

To Equipment A/c $10,300

(Being the equipment is sold)