1 ..... 7 8 9 10 11 12 13 14 Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $27,200. Prepare the adjusting journal entry for depreciation. Note: Enter debits before credits. Account Title Debit Credit Date Jan 31 Record entry Clear entry View general journal 1 ..... 7 8 9 10 11 12 13 14 Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $27,200. Prepare the adjusting journal entry for depreciation. Note: Enter debits before credits. Account Title Debit Credit Date Jan 31 Record entry Clear entry View general journal