On March 1. 1979, one of the buildings owned by the Metropolitan Storage Company was destroyed by fire. The cost of the building was \(\$ 100,000\); the balance in the Accumulated Depreciation account at January 1, 1979, was \(\$ 38,125\). A service life of 40 years with a zero salvage value had been estimated for the building. The company uses the straight-line method. The building was not insured.

a Give the journal entries made at March 1.

b If there have been no alterations in the service life estimate, when was the building acquired?