2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Return to question 3. Compute straight-line depreciation on the building at the end of one year, assuming an estimated twelve year useful life and a $5,500 estimated residual value. 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Return to question 3. Compute straight-line depreciation on the building at the end of one year, assuming an estimated twelve year useful life and a $5,500 estimated residual value