2) Include the mathematical calculations (if you have to calculate a number, show the work.) Problem #5 July 1, ABC Company paid $1,500,000 for a building. The building will be depreciated over a 25-year period using straight line depreciation. The building has a salvage value of $200,000. Assuming that no journal entries have been made since the building was purchased, prepare one adjusting journal entry for the period July 1 - December 31. I

2) Include the mathematical calculations (if you have to calculate a number, show the work.) Problem \#5 July 1,ABC Company paid $1,500,000 for a building. The building will be depreciated over a 25 -year period using straight line depreciation. The building has a salvage value of $200,000. Assuming that no journal entries have been made since the building was purchased, prepare one adjusting journal entry for the period July 1 - December 31