A. C. Nielsen Company surveys American television viewing trends. Nielsen's balance sheet reports the following assets under Property and Equipment: Land, Buildings, Office Furniture, Communication Equipment, Televideo Equipment, and Leasehold Improvements. The company has a separate accumulated depreciation account for each of these assets except land and leasehold improvements. Amortization on leasehold improvements is credited directly to the Leasehold Improvements account rather than to Accumulated Depreciation-Leasehold Improvements.

Assume that Nielsen completed the following transactions:

Jan. 4 Traded in communication equipment with book value of \(\$ 31,000\) (cost of \(\$ 96,000\) ) for similar new equipment with a cash cost of \(\$ 108,000\). The seller gave Nielsen a trade-in allowance of \(\$ 20,000\) on the old equipment, and Nielsen paid the remainder in cash.

19 Purchased office furniture for \(\$ 45,000\) plus 6-percent sales tax and \(\$ 300\) shipping charge. The company gave a 90 -day, 10 -percent note in payment.

Apr. 19 Paid the furniture note and related interest.

Aug. 29 Sold a building that had cost \(\$ 475,000\) and had accumulated depreciation of \(\$ 353,500\) through December 31 of the preceding year. Depreciation is computed on a straightline basis. The building has a 30 -year useful life and a residual value of \(\$ 47,500\). Nielsen received \(\$ 250,000\) cash and a \(\$ 450,000\) note receivable.

Sep. 6 Paid cash to renovate leased assets at a cost of \(\$ 53,000\).

Nov. 10 Purchased used communication and televideo equipment from the Gallup polling organization. Total cost was \(\$ 90,000\) paid in cash. An independent appraisal valued the communication equipment at \(\$ 75,000\) and the televideo equipment at \(\$ 25,000\).

Dec. 31 Recorded depreciation as follows:
Equipment is depreciated by the double-declining-balance method over a five-year life with zero residual value. Record depreciation on the equipment purchased on January 4 and on November 10 separately.
Office furniture has an expected useful life of eight years with an estimated residual value of \(\$ 5,000\). Depreciation is computed by the sum-of-years'-digits method.
Amortization on leasehold improvements is computed on a straight-line basis over the life of the lease, which is six years, with zero residual value.
Depreciation on buildings is computed by the straight-line method. The company had assigned buildings an estimated useful life of 30 years and a residual value that is 10 percent of cost. After using the buildings for 20 years, the company has come to believe that their total useful life will be 35 years. Residual value remains unchanged. The buildings cost \(\$ 96,000,000\).
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Record the transactions in the general journal.